TechTeam Global buys Digital Support Corp.
Posted on: Friday, 2 January 2004, 06:00 CST
TechTeam Global Inc. of Southfield, Mich., has acquired Digital Support Corp., a provider of information technology services, the company announced this week.
Under the agreement, TechTeam will play $6.3 million now. Another $2.5 million will be paid over the next two years if Chantilly, Va.-based DSC hits certain operating income objectives and satisfies other conditions.
DSC provides help desk, network infrastructure, information assurance, enterprise application, health care technology, systems integration and hardware services and solutions to various government and commercial sector customers. The companys most significant federal government client is the Department of Defense.
William Coyro, TechTeams president and chief executive officer, said the acquisition will expand significantly the companys presence in the systems integration and IT solutions business.
DSC will provide TechTeam with an important and immediate entrée to the federal and local government services markets, he said. The rapid expansion of TechTeams systems integration business segment, which will occur as a result of this acquisition, will complement our call center, help desk, training and computer desk-side support service lines, he said.
DSC has more than 200 employees and had annual sales of $18.8 million and net income of $522,000 for the fiscal year ending Sept. 30, 2003.
TechTeam, a provider of IT and business process outsourcing support services, has about 1,300 employees and annual sales of $86.6 million, according to Hoovers Online of Austin Texas.
Reported By Washington Technology, http://www.washingtontechnology.com
(20040102/WIRES industry, mergers, daily_news/)
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