Walnut Creek, CA (PRWEB) March 24, 2014
First Tek, a leading provider of IT staffing services, has acquired the assets of Emtec’s staffing business unit and assumes responsibility for its ongoing operations.
Based in Piscataway, NJ, First Tek (http://www.first-tek.com) 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 (http://www.itMandAforum.com), 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."
About the Global IT M&A Forum:
The Global IT M&A Forum is an organized and dynamic marketplace for companies seeking middle-market IT mergers and acquisitions. By bringing together pre-qualified buyers and sellers for confidential face-to-face meetings during one business day, this marketplace event facilitates and accelerates M&A transactions with enterprise values less than $30 million.
Tapping an international database of more than 90,000 buyers and investors in the IT sector, the Forum connects mid-market companies seeking a sale, growth capital, and/or strategic partnerships. Specific focus includes Managed Services, Software and Software as a Service (SaaS), Big Data, IT Security, IT Supply Chain and Business Process Outsourcing (BPO).
To learn more about the upcoming marketplace, visit http://www.itMandAforum.com.