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View All NewsCTG completes $9.7 million acquisition of Tech-IT
February 07, 2019
CTG Inc. (NASD: CTG), a Buffalo, NY-based provider of IT staffing, on Wednesday completed its acquisition of Tech-IT PSA SA, a Luxembourg-based firm that provides IT consulting and solutions.
The deal was initially announced on Jan. 3, and CTG paid €8.5 million (US$9.7 million) for all outstanding shares of Tech-IT. The deal is expected to be immediately accretive to operating results, excluding customary acquisition-related expenses.
Tech-IT was founded in 2007 and employs approximately 50 people in Luxembourg, including 40 consultants. It will operate as a subsidiary of CTG Luxembourg.