IT Staffing Report: March 7, 2019

Print

CTG completes Tech-IT acquisition

CTG Inc. (NASD: CTG), a Buffalo, NY-based provider of IT staffing, on Feb. 6 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.