Glodyne Technoserve acquires DecisionOne Corp.
Goldyne Technoserve, an emerging technology services providing firm with proficiency in IT services, consulting and technology infrastructure management services and having presence in India and the United States, has announced that it has acquired DecisionOne Corporation based in the US from its stakeholders spending $104 million.
Quoting a statement issued by Glodyne Technoserve, a financial website reports that DecisionOne is among the major money-making pure-play North American tech IMS firms that earned revenues worth $200 million during the commercial year 2009. The company possesses wide-ranging competence in offering infrastructure management facilities both in the US as well as Canada. The client portfolio of DecisionOne includes several marquee companies featuring in the Fortune 500 list.
The report states that in May 2010, Glodyne had declared its decision to acquire DecisionOne dependent on requisite sanctions and additional conditions necessary to close the deal. On Friday, the tech firm announced that it has finalized the consummation of contract by effecting obligatory conditions and payment, according to the stock purchase contract entered into for the acquisition.
Meanwhile, another business website quotes Annand Sarnaaik, chairman and managing director of Goldyne Technoserve, saying that following the acquisition of DecisionOne Corporation, his company anticipates significant business interaction as well as operational leverage primarily owing to harmonization of the business portfolio and development of business model. Describing the buy-out as the commencement of a stimulating journey for his firm, Sarnaaik said that the business synergies owing to the acquisition would considerably augment his company’s status in the technology IMS market worldwide, which is estimated to be to the tune of $524 billion.
According to the Goldyne Technoserve CMD, following the acquisition, the company intends to make its position stronger in the North American IMS technology market by adding more marquee customers to its client profile. At the same time, the company will recruit 2,000 extremely talented professionals during the current year to augment its operations.