First Tek acquires Emtec Staffing Division
Based in Piscataway, New Jersery, First Tek is a rapidly growing company specializing in IT staff augmentation services with over 700 associates in the US. This acquisition provides the next chapter in First Tek’s growth strategy and provides Emtec’s staffing business associates an opportunity to be part of an IT staffing focused company.
Facilitated by the Global IT M&A Forum, the transaction was the result of Emtec and First Tek meeting at the November 2013 Forum marketplace event in New York City.
According to Kumar Bhavanasi, CEO of First Tek, “The day-long Global IT M&A Forum marketplace was well-organized, efficient, and something we plan to attend again in the future. The Forum team does a superior job matching the right IT sector buyers with sellers."
“We attended the Global IT M&A Forum as a buyer and as a seller of one of Emtec's divisions,” said Greg Chandler, CFO of Emtec. “Within 75 days we closed the sale of our Staffing Division and are pleased with the outcome. We also participated in nine acquisition meetings at the Forum with top mid-market IT companies. My colleagues and I embrace this format and believe it was an incredibly efficient way to conduct business."
Credit to: PR Web