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HomeStaffingCTG acquires Dallas-based IT options supplier in $18.6 million deal

CTG acquires Dallas-based IT options supplier in $18.6 million deal


September 30, 2022

CTG (NASDAQ: CTG), an IT staffing and options agency primarily based in Buffalo, New York, acquired Eleviant Applied sciences Inc., an IT options supplier primarily based in Dallas.

CTG paid $18.6 million for Eleviant, based on a regulatory submitting. Of the quantity, $17.4 million was paid in money and the rest in CTG frequent inventory.

The deal provides roughly $10 million in annualized income.

“We not solely share complementary technical abilities, choices and business expertise, however related cultures, approaches and an unwavering dedication to consumer success on each challenge,” CTG President and CEO Filip Gydé stated.

CTG reported the acquisition will bolster its choices in synthetic intelligence, machine studying and clever automation. With the deal, the corporate additionally goals to increase its capabilities in different areas akin to cloud migration, cell utility improvement and rising applied sciences akin to blockchain.

Eleviant additionally affords software-as-a-service platforms, together with its PeopleOne intranet resolution. As well as, Eleviant’s enterprise contains groups in Chennai and Coimbatore, India. It has shoppers in manufacturing, logistics, healthcare, finance and insurance coverage.

“We consider this merger will strengthen our mission to assist companies elevate and scale with progressive digital transformation options,” Eleviant founder and CEO Jude Ramayya stated.

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