IT Staffing Report: Aug. 3, 2017

Print

Mastech Digital acquires InfoTrellis in $55 million deal

IT staffing provider Mastech Digital Inc. (NYSE MKT: MHH) completed its acquisition of the services division of InfoTrellis Inc., a Canada-based information management consulting and technology services company that provides project and consulting services in master data management, data integration and big data. The deal is valued at $55 million.

Mastach entered the agreement July 7 and announced its completion July 13.

The acquired business will be branded as Mastech InfoTrellis, which offers project-based consulting services to customers in the areas of master data management, data integration, and big data.

The acquisition enables Mastech Digital to provide consulting services around data management and analytics and to cross-sell a broader range of service offerings. Mastech Digital also expects larger scale, improved operational efficiencies and an expanded global delivery model, as well as better economies of scale from shared support services integration.

The purchase agreement called for Mastech to pay $35.8 million in cash at closing for the acquired business, as well as a deferred $19.3 million, which is contingent upon the acquired business generating specified EBIT targets during the next two years.

“I am pleased that we were able to fulfill all closing requirements leading to the successful completion of the transaction in a short period of time,” said Mastech Digital President and CEO Vivek Gupta. “Our new brand, Mastech InfoTrellis, represents the best of both companies, with proven strengths in data management and analytics. Customer feedback on the combination thus far has been very positive." 

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.