Apr 1, 2004 : Infocrossing Completes Stock Sale

📅 April 1, 2004 - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced today that it has completed its previously announced $30.6 million private placement of 2,917,000 shares of its common stock.

The New Jersey-based company said it plans to use the proceeds to finance a portion of the $36.5 million it has agreed to pay for all of the outstanding stock of data center outsourcing provider Systems Management Specialists (SMS) (smsoutsourcing.com).
Infocrossing announced plans to acquire SMS in early March. It expects the combination of two regional service providers will bring the company an additional $33 million in annual revenue.

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Company: infocrossing.com

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