TMCnet News
Consortium of investors to sell stake in Azaleos to AvanadeNov 14, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Azaleos Corporation has entered into an agreement to be acquired by Avanade, Inc., a provider of business technology solutions and managed services. Both the companies are based in the US. Azaleos is a provider of managed email, collaboration and unified communications services, and backed by Ignition Partners and Second Avenue Partners. 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. The acquisition is subject to closing conditions, including receipt of required regulatory approvals and expected to close in December 2012. Deal Type Venture Finance Sub-Category Exit 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. |