Glodyne Technoserve acquires US-based DecisionOne Corporation
02 Jul 2010
Glodyne Technoserve, a Mumbai-based technology infrastructure management services (IMS) company, has acquired DecisionOne Corporation, a US-based technology IMS company, for a total consideration of $105 million.
DecisionOne is a profitable pure-play Technology IMS company in North America, with $200 million in revenue and earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of 8.1 per cent for CY 09. The company offers infrastructure management services in the US and Canada and counts key clients among marquee Fortune 500 companies.
According to Glodyne, the business synergies of the acquisition would enhance the position of the company in the $524 billion global technology IMS marketplace and strengthen its global reach with a robust onsite-remote IMS global delivery model.
The transaction deepens and widens the service offering portfolio across many segments, including data centre, networking, server, workstation, and storage services, as also application management services.
The company also expects to significantly strengthen its position in the North American market with the addition of marquee clients and more than 2,000 highly skilled professionals.
The acquisition was funded through a combination of debt and cash reserves. The company has got its equity enhanced through issuance of equity shares under preferential allotment route to private equity funds - Cerberus Capital Partner, Franklin Mutual, Highland Capital and ING, for $23 million.