Brief: CTG Announces Acquisition Of Soft Company

Computer Task

15/02/2018 13:21

Feb 15 (Reuters) - Computer Task Group Inc  CTG.O : 
    * CTG ANNOUNCES ACQUISITION OF SOFT COMPANY 
    * COMPUTER TASK GROUP INC - ALL-CASH TRANSACTION IS VALUED 
AT 
$16.5 MILLION 
    * COMPUTER TASK GROUP INC - DEAL IS EXPECTED TO BE 
IMMEDIATELY 
ACCRETIVE TO CTG'S OPERATING MARGIN AND EARNINGS PER SHARE 
    * COMPUTER TASK GROUP - DEAL FUNDED WITH COMBINATION CASH ON 
HAND&DRAWDOWN OF CAPITAL FROM CO'S RECENTLY EXPANDED THREE-YEAR 
REVOLVING CREDIT FACILITY 
    * COMPUTER TASK GROUP INC - TRANSACTION ADDS ABOUT $30 
MILLION IN 
ANNUALIZED REVENUE 
    * COMPUTER TASK GROUP INC - BOARDS OF DIRECTORS OF BOTH 
COMPANIES 
UNANIMOUSLY APPROVED TRANSACTION 
    * COMPUTER TASK GROUP - POST DEAL, SOFT COMPANY TO OPERATE 
AS UNIT 
OF CTG EUROPE, TO CONTINUE TO BE LED BY CURRENT SOFT COMPANY 
MANAGEMENT TEAM 
 
Source text for Eikon:  ID:nGNX38S5mQ  
Further company coverage:  CTG.O  
 
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