Brief: CTG To Acquire Luxembourg-Based Tech-It For $10.3 Mln

Computer Task

03/01/2019 12:20

Jan 3 (Reuters) - Computer Task Group Inc  CTG.O :
    * CTG ANNOUNCES AGREEMENT TO ACQUIRE LUXEMBOURG-BASED
TECH-IT
    * PROPOSED ALL-CASH TRANSACTION IS VALUED AT ABOUT $10.3
MILLION
    * DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO OPERATING
RESULTS,
EXCLUDING CUSTOMARY ACQUISITION-RELATED EXPENSES
    * CTG EXPECTS TO FUND $10.3 MILLION PURCHASE PRICE OF
ACQUISITION
THROUGH A COMBINATION OF CASH ON HAND AND A DRAWDOWN OF CAPITAL
    * BOARDS OF DIRECTORS OF BOTH COMPANIES UNANIMOUSLY APPROVED
TRANSACTION
    * COMPUTER TASK GROUP - ANNOUNCED AGREEMENT TO ACQUIRE
LUXEMBOURG-BASED TECH-IT PSF S.A., A CONSULTING AND IT SOLUTIONS
COMPANY, THROUGH ITS UNIT

Source text for Eikon:  ID:nGNXbKjs1c 
Further company coverage:  CTG.O 

 (Reuters.Briefs@thomsonreuters.com)