Software company to acquire Allstates Technical Services
Magic Software Enterprises Ltd. (NASD: MGIC), a provider of software platforms for enterprise mobility, cloud applications and business integration, announced today that it has entered into an agreement with KBR Inc. (NYSE: KBR) to acquire the U.S. enterprise operations of KBR subsidiary Allstates Technical Services LLC for $10 million.
The acquisition is expected to be finalized by mid-November 2013.
Allstates Technical Services is a U.S.-based provider of consulting and staffing solutions for IT, engineering and telecom personnel. It ranks No. 14 on Staffing Industry Analysts’ list of largest engineering/design staffing firms with $89 million in U.S. staffing revenue.
Magic's Texas-based Fusion Solutions LLC subsidiary will manage the acquisition, which broadens Magic's U.S. footprint and adds leading Fortune 500 companies to its customer base.