2023-08-09 07:30:14 ET
- Cegeka on Wednesday said it would buy Computer Task Group ( NASDAQ: CTG ) for $10.50 per share in an all-cash transaction, representing an implied equity value of about $170 million.
- CTG, a provider of digital transformation solutions recorded $325 million in 2022 revenue and $306 million in trailing 12-month revenue as of June 30, 2023.
- CTG operates in three segments: North America IT Solutions and Services, Europe IT Solutions and Services, and Non-Strategic Technology Services.
- The deal is expected to bring Cegeka to an annual turnover in 2024 of €1.4 billion, employing over 9,000 people in 18 countries.
- The offer price represents a 44.8% premium to the trailing 90-day volume weighted average stock price as of August 7.
- CTG +3.0% premarket to $8.24
- Source: Press Release
For further details see:
Cegeka to acquire Computer Task Group in $170M all cash deal