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Ciber Inc. (NYSE: CBR), a Greenwood, Colo.-based provider of information technology solutions and staffing, agreed to sell certain assets of its IT outsourcing business to Savvis for $7.0 million in cash, plus a cash earn-out payment based on results through December 2013.
Assets include client and vendor relationships, infrastructure, technology and facilities spanning several countries. Savvis also expects to hire the approximately 750 people who currently support Ciber’s IT outsourcing business.
“This action aligns with Ciber’s strategies to continue to narrow our focus on core offerings and market segments, and to drive growth through strategic partnerships with businesses that have scale and are leaders in the industry,” said Ciber CEO Dave Peterschmidt.
The transaction is expected to close in the fourth quarter. The agreement builds on the partnership Ciber and Savvis formed in July 2011.
Savvis is a cloud infrastructure and IT solutions provider. It is owned by CenturyLink Inc., a Monroe, La.-based telecommunications company.