ISG acquires sourcing advisory firm Alsbridge for $74 million
Hyderabad: Nasdaq-listed technology advisory services firm, Information Services Group Inc (ISG), on Friday said it has acquired Alsbridge Holdings, Inc for $74 million.
The Connecticut-based ISG will pay Alsbridge $74 million, comprising $56 million in cash, $11 million in ISG stock and a $7-million seller’s note.
US-based Alsbridge is into sourcing, automation and transformation advisory services.
The combined entity will serve more than 700 blue-chip clients, including 75 of the 100 largest enterprises in the world and its global team will grow by approximately 20%, to 1,300 research and advisory professionals, ISG said in a statement.
Post acquisition- ISG is targeting 2017 revenues of $285-$300 million, adjusted Ebitda of $36-$38 million.
“The firm will offer a broader range of services, deeper proprietary data and market intelligence, and more extensive expertise to help enterprise, government, and service and technology provider clients leverage digital technologies to achieve operational excellence,” the statement added.
“This acquisition is an important step in ISG’s strategic plan to build an even stronger and more successful premium research and advisory firm—one focused on helping clients leverage the technology and business models of the digital revolution to achieve operational excellence and faster growth,” said Michael P. Connors, chairman and chief executive officer of ISG.
“This is takes us to the next level of service, performance and growth,” Connors said.