Zensar acquires Akibia
Zensar Technologies (NSE:ZENSARTECH) and PSI Holding, USA (Akibia) today announced that the two companies have entered into a definitive agreement for Zensar to acquire Akibia. Under the terms of the agreement, Zensar will offer to acquire all of the outstanding stock of Akibia through a merger process with Zensar’s wholly owned US subsidiary.
Zensar’s acquisition of Akibia strengthens its position in the fast growing infrastructure management and information security space by combining Zensar’s Remote Infrastructure Management (RIM) offshore services for global clients with Akibia’s United States and European data center practice.
Announcing the acquisition, Harsh Goenka, chairman of RPG and Zensar said, “The combination of the two companies will enhance the value Zensar delivers to customers. It is strategic to Zensar, as Akibia is a key player in the infrastructure management space with revenues of over $ 100 million and a robust management team in the US and Europe.”
As part of the integration of the two companies, Akibia will become a new business unit within Zensar. In addition to Akibia’s founder and chairman, Thomas Willson and its president & CEO, Tom Tucker, who will join the management council of Zensar, the company’s management team and over three hundred associates will be integrated into Zensar’s global delivery model to retain and enhance the service offerings to the customers of both companies..
The completion of the transaction, which is subject to customary government approvals and the satisfaction of other customary conditions, is expected to close in the current quarter.
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