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8 months ago
BRIEF-ISG acquires Alsbridge in transformational combination creates new powerhouse in technology research, advisory and digital transformation services
December 1, 2016 / 11:01 PM / 8 months ago

BRIEF-ISG acquires Alsbridge in transformational combination creates new powerhouse in technology research, advisory and digital transformation services

2 Min Read

Dec 1 (Reuters) - Information Services Group Inc

* ISG acquires Alsbridge in transformational combination; creates new powerhouse in technology research, advisory and digital transformation services

* Information Services Group says ISG is paying a total consideration of $74 million

* Information Services Group says acquisition expected to be accretive to 2017 EPS

* Information Services Group says Alsbridge management will receive a substantial portion of their consideration in form of ISG stock.

* Information Services Group says Synergistic transaction is expected to have a material impact on 2017 financials

* Information Services Group says firm's preliminary 2017 outlook targets revenues in range of $285-$300 million and adjusted EBITDA between $36-$38 million

* Information Services Group says ISG will take a fourth-quarter, one-time charge of approximately $6 million for severance and other deal-related costs

* Information Services Group says paying a total consideration of $74 million, comprised of $56 million of cash, $11 million of ISG stock and a $7 million seller's note

* Information Services Group says in separate transaction,existing shareholder Chevrillon & Associes SCA is purchasing 3 million shares of ISG stock for $12 million Source text for Eikon: Further company coverage:

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