Glodyne Technoserve acquired DecisionOne for $104 mn

Glodyne Technoserve has completed the acquisition of DecisionOne Corporation, a US-based technology IMS company for a total consideration of approximately $104 million. Shares of Glodyne Technoserve gained marginal ground to trade at Rs 764 during the morning session on the Bombay Stock Exchange (BSE).

According to a company release, DecisionOne is one of the largest profitable pure-play technology IMS companies in North America, with revenues of $200 million and EBITDA margin of 8.1 per cent in CY09. DecisionOne has extensive capabilities in providing infrastructure management services in the US and Canade. Among its key clients are marquee Fortune 500 clients.

Glodyne had announced the acquisition of DecisionOne in the month of May subject to necessary approvals and other conditions for closing. The company has completed the consummation of transaction by completing necessary conditions and payment, as per the stock purchase agreement entered into for the acquisition.