Magic says that the acquisition will broaden it US operations and adds leading Fortune 500 companies to its customer base.
Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) the US operations of Allstates Technical Services LLC, a subsidiary of KBR Inc. (NYSE: KNR), for $10 million. The deal will closed by mid-November.
Allstates Technical Services, a 60-year old company, is a US-based full-service provider of consulting and staffing solutions for IT, engineering and telecom personnel. Magic says that the acquisition will broaden it US operations and adds leading Fortune 500 companies to its customer base, making an important contribution to Magic's growth strategy. Magic's US subsidiary Fusion Solutions LLC will manage the acquisition.
"We're excited about the synergies and growth opportunities provided by the Allstates acquisition," said Fusion Solutions president and CEO Yuki Tsaroya. "We welcome Allstates' clients."
Published by Globes [online], Israel business news - www.globes-online.com - on October 8, 2013
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