American CyberSystems to Acquire Analysts International Corporation
American CyberSystems to Acquire Analysts International Corporation for $35.0 Million or $6.45 per Share
American CyberSystems, Inc. (ACS), a global information technology services company, and Analysts International Corporation (AIC) (Nasdaq: ANLY), a leading information technology services company, today announced they have signed a definitive agreement under which ACS will acquire AIC in a transaction valued at approximately $35.0 million. Under terms of the agreement, ACS will commence a tender offer for all outstanding shares of AIC for $6.45 per share, in cash, which is a 62.1 percent premium over the average closing price for AIC over the past 30 days. AIC’s Board of Directors unanimously approved the transaction and recommends that AIC’s shareholders accept ACS’s offer.
“American CyberSystems continues to experience tremendous growth in the marketplace. The acquisition of AIC allows us to accelerate our plans for growth in specific desirable geographies and capitalize on marquee customer opportunities,” said Raj Sardana, ACS Chairman and CEO. “The AIC legacy of service excellence will remain intact and will be a strong complement to ACS and our combined customer base.”
“This merger is good for our customers, employees and shareholders,” said Brittany McKinney, AIC President and CEO. “By combining our strengths with the added capabilities and resources of ACS, AIC will continue to provide the same high value services our customers have come to expect from us, while expanding our offerings, delivery capabilities and geographic reach to better serve them. Our employees will become part of a larger organization that provides expanded career opportunities and a broader network of colleagues with a shared passion for customer service. And our shareholders will receive an immediate cash payment at a substantial premium to AIC’s average recent stock price,” concluded McKinney.
About American CyberSystems, Inc.
Founded in 1998, American CyberSystems, Inc. is a global information technology services company offering IT consulting and staffing services, systems integration and business solutions to organizations in a variety of industries. Through its extensive resource pool and global recruitment centers, ACS offers unparalleled expertise in delivering solutions for Fortune 1000 companies worldwide. ACS works in partnership with clients to understand their challenges, share their vision and deliver mission specific solutions. For more information about American CyberSystems, please visit http://www.acsicorp.com/.
About Analysts International Corporation
Analysts International Corporation is an IT services firm fully dedicated to the success and satisfaction of its clients. From IT staffing to project-based solutions, AIC provides a broad range of services designed to help businesses and government agencies drive value, control costs and deliver on the promise of a more efficient and productive enterprise. AIC offers a flexible, collaborative approach clear industry perspective and the breadth, scale and experience to deliver results. For more information, visit http://www.analysts.com/Pages/default.aspx .