Mergers and Acquistions News
Categories: Software
February 19th 2010, 17:34PM
A software solution provider has announced that it has entered a private agreement to acquire two subsidiaries of a publically-held company on the NASDAQ OMX Stockholm Small Cap-list.
TriTech Software Systems will acquire both Ortivus Inc US and Ortivus Inc Canada from parent company Ortivus AB.
This is the second acquisition agreement made by the company in the last two years and is designed to solidify its position as one of the most diversified software solution providers in the market.
In a statement the company asserted: "The acquisition agreement was signed today, and completion of the transaction is subject to a number of closing conditions including Ortivus AB shareholder approval."
TriTech added that this is expected to take approximately two weeks to complete.
Earlier this month, Blue Horseshow announced that it would be acquiring TransTech Consulting Inc after the deal was finalised.
The current management structure at the newly-acquired firm will remain in their position.
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