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Mar 26, 2004 : Infocrossing Sells Stock to Fund Buy
📅 - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced on Friday that it has entered into a definitive agreement for a $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). Earlier this month, Infocrossing announced its intentions to acquire the California-based company in a deal it says will bring an additional $33 million in gross annual revenue. The private placement, which Infocrossing expects to close next week, is conditional upon approval from Nasdaq customary regulatory approvals.
Reads: 1715 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/inf032604.cfm
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📅 - Infocrossing Acquires SMS for $36.5M - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced on Thursday that it has entered into a definitive agreement to acquire all of the outstanding stock of data center outsourcing provider Systems Management Specialists (SMS) (smsoutsourcing.com). Under the financial terms, Infocrossing will pay $36.5 million in cash and Infocrossing stock. The company said the deal combines two strong regional providers in New Jersey and California with complementary service offerings. "The acquisition of SMS is an important step in solidifying our position in the outsourcing market," says Zach Lonstein, chairman and chief execut
📅 - Infocrossing Completes Stock Sale - 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.
📅 - Infocrossing Completes Buy of SMS - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, has completed its acquisition of data center outsourcing provider Systems Management Specialists (SMS) (smsoutsourcing.com) agreed to in early March, the company announced on Monday. Infocrossing will pay $35 million in cash and 135,892 shares of Infocrossing stock for SMS. Infocrossing financed the acquisition from part of the proceeds of its recent $30.6 million private placement of 2,917,000 shares of its common stock. "The acquisition of SMS positions Infocrossing as a national provider in the strategic outsourcing market," says Zach Lonstein, chairman and chief executi
📅 - Infocrossing Names New Board Members - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, named Patrick A. Dolan and Howard L. Waltman to its board of directors of Thursday. Dolan is currently the president and chief operating officer of Infocrossing. He was previously chairman and chief executive officer of ITO Acquisition Corporation. Waltman is a co-founder of Express Scripts, a pharmacy benefits management company. He previously served as a director of Infocrossing between May 1997 and May 2000. "We are pleased to welcome Patrick Dolan and Howard Waltman to Infocrossing's Board of Directors," says Zach Lonstein, chairman and CEO of Infocrossing. "Patrick's
📅 - Infocrossing Acquires MailWatch - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced this week that it has acquired MailWatch, a provider of outourced email security services. Infocrossing paid $3.5 million in cash and 123,193 shares of Infocrossing stock. The company said the acquisition of MailWatch complements its existing managed services capabilities and will help it break into the outsourced email security services market. "The transaction reflects our focus on acquiring companies with a data center based business model, recurring revenue stream and complementary services that can be integrated into our existing operations and enhance the value of o
📅 - Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced on Friday that it has entered into a definitive agreement for a $30.6 million private placement of 2,917,000 shares of its common stock. 
Reads: 1715 | Category: General | Source: TheWHIR : Web Host Industry Reviews