February 15, 2018 / 1:43 PM / in 9 days

BRIEF-CTG Announces Acquisition Of Soft Company‍​

Feb 15 (Reuters) - Computer Task Group Inc:

* CTG ANNOUNCES ACQUISITION OF SOFT COMPANY‍​

* COMPUTER TASK GROUP INC - ALL-CASH TRANSACTION IS VALUED AT $16.5 MILLION‍​

* COMPUTER TASK GROUP INC - DEAL IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO CTG’S OPERATING MARGIN AND EARNINGS PER SHARE

* COMPUTER TASK GROUP - DEAL FUNDED WITH COMBINATION CASH ON HAND&DRAWDOWN OF CAPITAL FROM CO‘S RECENTLY EXPANDED THREE-YEAR REVOLVING CREDIT FACILITY

* COMPUTER TASK GROUP INC - TRANSACTION ADDS ABOUT $30 MILLION IN ANNUALIZED REVENUE‍​

* COMPUTER TASK GROUP INC - BOARDS OF DIRECTORS OF BOTH COMPANIES UNANIMOUSLY APPROVED TRANSACTION

* COMPUTER TASK GROUP - POST DEAL, SOFT COMPANY TO OPERATE AS UNIT OF CTG EUROPE, TO CONTINUE TO BE LED BY CURRENT SOFT COMPANY MANAGEMENT TEAM‍​ Source text for Eikon: Further company coverage:

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