Dallas, Texas 09/06/2013 (Financialstrend) – A global info technology services company, American CyberSystems, Inc will be acquiring Analysts International Corporation (NASDAQ:ANLY) for $35.0M or $6.45 /share. The definitive agreement has been signed by both the companies. Under the agreement terms, American CyberSystems will launch a tender-offer for all the outstanding ANLY shares at $6.45/share, in cash.
This represents a 62.1% premium over the average closing-price of ANLY shares over the last 30 days. The latter’s board of directors have given their unanimous approval for this transaction and recommend that the shareholders of the company approve this offer.
Massive company growth
The ACS Chairman and Chief Executive Officer, Raj Sardana said that their company continues experiencing massive growth in the current marketplace. The AIC acquisition will allow them to add momentum to their growth-plans in demarcated geographies and also capitalize on the marquee customer-opportunities said Sardana. He added that the tradition of service excellence that ANLY has will remain untouched and that it will complement ACS’s combined customer base.
Analysts International Corporation’s President and CEO, Brittany McKinney said that this merger will be profitable for the company’s employees, customers and shareholders. She said that in combining their strengths they have additional resources and capabilities at their disposal and they will continue providing high-value services that customers have been receiving to date. It will also help the company expand their delivery capabilities and offerings as well as their geographic reach.
ANLY is essentially an info tech IT services company. It offers a variety of services from Project Based Solutions to IT Staffing to government and businesses. The company delivers the IT services via three different methods- Managed Teams, Staff Augmentation as well as Project-Based Solutions. Analysts International Corporation (NASDAQ:ANLY) also supplies consultants to numerous technology disciples in various companies. The company has a market cap of $32.75 million.