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Paranet buys IT firms

August 20 2008

Paranet Solutions LLC, a Dallas-based information technology services and staffing firm, acquired Abacus Technical Services Inc. and Knowledge Tranzfer Inc., both based in Dallas. Abacus provides IT staffing across the U.S.; Knowledge Tranzfer provides IT services. Terms of the transactions were not announced.

Abacus will continue to operate under its own brand as a Paranet company. "They have a very strong brand and we want to use that and leverage that in the marketplace," said Paranet CEO Alan Bratton.

Bratton said Abacus's client base includes upper mid-market to Fortune 500 firms. "They have a very strong recruiting organization," Bratton said, that will also benefit Paranet and Knowledge Tranzfer. In addition, Abacus has a strong communication platform between clients and with its employees, he said.

The acquisitions will give Paranet approximately 200 employees.

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