TMCnet News
Avanade to acquire AzaleosNov 14, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Avanade, Inc., a provider of business technology solutions and managed services, has signed a definitive agreement to acquire Azaleos Corporation, a provider of managed email, collaboration and unified communications services. Both the companies are based in the US. As part of the acquisition, all of Azaleos' approximately 200 employees will be offered an opportunity to continue to support the Azaleos business at Avanade. Earlier, Azaleos had secured venture funding from Ignition Partners and Second Avenue Partners. The acquisition is subject to closing conditions, including receipt of required regulatory approvals and expected to close in December 2012. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2012-11-13 Deal Participants Target (Company) Azaleos Corporation Acquirer (Company) Avanade, Inc. Deal Rationale The acquisition will expand Avanade's market position in managed services for Microsoft communication and collaboration technologies. |