Mergers and Acquistions News
Categories: IT Services & Consulting
January 4th 2010, 16:58PM
IT solutions firm Edgewater Technology has announced the acquisition of Alabama-based Microsoft Dynamics consulting firm Fullscope for $12.5 million (£7.7 million).
Award-winning Fullscope provides enterprise resource planning (ERP) services and software aimed at improving operational inefficiencies and increasing the speed and flexibility of manufacturing processes.
Shirley Singleton, chief executive officer of Edgewater, said that the acquisition extends the reach of the company's strategic data and analytics offerings into the upper middle market.
"We see tremendous opportunity in this market segment from a combination of updating and upgrading existing ERP platforms, many of which have been untouched since the 1999-2000 timeframe," she added.
Under the terms of the deal, Fullscope shareholders will receive $12.5 million in cash, while the transaction also includes an earn-out agreement through which positive net income will be passed through to former stockholders.
Last year, Edgewater Technology was recognised within Software Magazine's 27th annual Software 500, a list of the world's largest software and services providers.
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