Dyne Techservices Inc., a Silicon Valley Software Services company (a wholly owned subsidiary of Paradyne Infotech Limited) has signed a stock purchase agreement with Links Group International Inc. to acquire 100% stake in LGI Inc.
LGI Inc. is a profit making company based out of Virginia, USA. The Company is in the business of Software Services and has client base in various states in USA. LGI Inc. has a strong client base which comprises of companies across verticals. A few LGI Inc. clients are Symantec, France Telecom/Orange Business, Openet, Plateau, and Equant Inc.
The consideration for the acquisition is for $4.75 Million in an all cash deal. The funding would be done via debt and internal accruals. LGI's current year revenue is above $7 million and Gross profit is above $1.4 million.
The acquisition is in line with the Company's Strategy to grow multifold through a combination of Organic and Inorganic growth and spread its geographical risks. Commenting on the acquisition, Mr. Annand Sarnaaik, MD & CEO, Paradyne Infotech, said, "The acquisition would further strengthen our position in the US market and create inroads for a host of services that we have to offer. The resources at Paradyne would enhance LGI Inc.'s offerings to its customers and tap newer clients. The combined skill sets of Paradyne and LGI Inc. would work synergistically driving growth within the US market."
Source:
Dyne Techservices Inc.
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