UIS - Unisys acquires CompuGain for $87.3M

Unisys (UIS +3.5%) has acquired cloud solutions provider CompuGain for $87.3M on a cash-free, debt-free basis. The transaction was funded with cash on hand and is expected to be immediately accretive to adjusted EBITDA and free cash flow (FCF). CompuGain is a Amazon Web Services Advanced Consulting Partner. Its capabilities in application modernization, cloud-native agile application development and cloud and hybrid cloud data management will bolster Unisys' cloud offerings. Unisys Chair and CEO Peter Altabef said, "Acquiring CompuGain will enable Unisys to enhance the delivery of rapid and agile cloud migration, application modernization and data value realization to our clients. CompuGain has a strong presence in financial services, which will add to our established position in that industry. It will also create cross-selling opportunities with both Unisys clients and CompuGain clients across multiple industries. Unisys expects the addition of CompuGain to drive revenue and profit growth and increased cash flow."

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Unisys acquires CompuGain for $87.3M