Cambridge Solutions to sell part of its business to Dallas-based Affiliated Computer Services, Inc

Cambridge Solutions Ltd has announced the sale of part of its Government vertical, run under the Albion banner in the United States, to Dallas-based Affiliated Computer Services, Inc. (NYSE: ACS), a premier provider of business process outsourcing and information technology solutions in an all cash deal worth up to US $30 million.

"We are pleased to announce this transaction, which will allow Cambridge Solutions to focus on its core high growth global outsourcing business. We concluded that our state and local government practice in the US, with its heavy on-shore staffing, can be better served and developed by a larger, experienced Company like ACS, which already has a strong government practice", said Chris Sinclair, Executive Chairman of the Company.

The deal is subject to certain closing conditions, and is expected to be completed in the next several weeks.

Source : Equity Bulls

Keywords