Ness Technologies to buy Gilon Business Insight for $17.5 million
By APThursday, March 25, 2010
Ness Technologies to buy Gilon for $17.5M
NEW YORK — Ness Technologies will buy Gilon Business Insight Ltd., a provider of business intelligence consulting and services, for about $17.5 million, the company said Thursday.
The information technology service provider said the acquisition will help it meet growing demand for business intelligence software and services.
As part of the deal, Ness said it will pay another $2.4 million if Gilon meets certain performance goals.
Gilon reported revenue of about $22 million in 2009 and it was profitable, Ness said. The company expects the acquisition to add to its own 2010 adjusted earnings.
Shares of Ness Technologies Inc. rose 14 cents, or 2.2 percent, to $6.54 Thursday.
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