dcsimg
 

TechTeam Global Bought By Brazil's Stefanini International Holdings

By Reuters  |  Print this article Print
 
 
 
 
 
 
 

WEBINAR:
On-Demand

Re-Imagining Linux Platforms to Meet the Needs of Cloud Service Providers


Outsourcing and business process outsourcing services provider TechTeam Global will be acquired by Brazil's Stefanini International Holdings for $93.4 million in cash as part of the Brazilian company's efforts to expand its international presence.

Nov 2 (Reuters) - TechTeam Global (NASDAQ:TEAM), a provider of outsourcing and business process outsourcing services, said it agreed to be bought by Brazil's Stefanini International Holdings Ltd for $93.4 million in an all-cash deal that will expand the private company's international presence.

Stefanini, through a U.S. unit, will purchase all outstanding TechTeam common shares for $8.35 per share, a 16.8 premium to the stock's Monday close.

The deal will be structured as a two-step merger to expedite the process.

Houlihan Lokey served as TechTeam Global's financial adviser, while Fredericks Michael & Co advised Stefanini, a holding company of privately held IT services provider Stefanini IT Solutions.

TechTeam shares were up 16 percent at $8.30 in early morning trade on Tuesday on Nasdaq. The stock is up 16 percent in the last six months. (Reporting by S. John Tilak in Bangalore; Editing by Roshni Menon)

 
 
 
 
 
 
 
 
 
























By submitting your information, you agree that channelinsider.com may send you channelinsider offers via email, phone and text message, as well as email offers about other products and services that channelinsider believes may be of interest to you. channelinsider will process your information in accordance with the Quinstreet Privacy Policy.

 
 
 
 
 
 

Submit a Comment

Loading Comments...
























By submitting your information, you agree that channelinsider.com may send you channelinsider offers via email, phone and text message, as well as email offers about other products and services that channelinsider believes may be of interest to you. channelinsider will process your information in accordance with the Quinstreet Privacy Policy.

 
 
 
 
 
 
 
 
 
Thanks for your registration, follow us on our social networks to keep up-to-date