Mergers and Acquistions News
Categories: Software
September 9th 2008, 14:39PM
SoftServe has completed its acquisition of business intelligence services firm Alvion Ukraine.
The software and technology developer called Alvion an "extremely attractive asset" that will help with its ongoing growth strategy.
Taras Vervega, executive vice president of business development, remarked: "The reason behind the deal is SoftServe's goal to expand its service offering for clients and to gain excellent expertise in ETL technology and online customer support."
SoftServe did not reveal the financial details of the takeover, but said that the two businesses would merge together quickly, with Alvion being absorbed into the firm's already established operation in Ukraine.
In other mergers and acquisition news, blank check company Middle Kingdom is to join with telecommunications handset distributor Pypo Digital, to created a new organisation called Pypo China Holdings.
Subject to conditions, Pypo's shareholders ARC Capital Holdings and Golden Meditech will purchase $10,000,000 worth of class B shares in Middle Kingdom.
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