Bonus Technology and IndusLogic have merged to form GlobalLogic. Wizarth Corporation represented Bonus Technology as their sole M&A advisor for the transaction.
September 27, 2006 (Press Release) --
New Jersey, Sept 27, 2006: IndusLogic, a Vienna, Virginia based, leading global provider of outsourced product development services, and Bonus Technology, a New Jersey based software engineering services company with significant operations in the Ukraine, have announced that they are merging. To better symbolize their expanded worldwide presence resulting from this merger, IndusLogic is changing the company's name to GlobalLogic. Wizarth Corporation (www.wizarth.com) announced today, their role as the sole M&A advisor representing Bonus Technology in this transaction. Wizarth is a boutique M&A and Investment Banking Firm, focused on cross border transactions in the IT and IT services industries.
The merger is the result of an equity swap, and no price was placed on the value of the transaction. The merger is effective Sept. 25.
According to Nick Sage, CEO of Bonus Technology, "Wizarth was instrumental in introducing Bonus Technology to the idea that a merger with IndusLogic will create an unrivaled powerhouse of software talent from Ukraine, India, and USA. Despite to the lack of prior deals of similar nature and complexity, Wizarth was able to guide Bonus Technology with a mix of hard work, knowledge, and creativity."
Jiten Apte, CEO of Wizarth added, "Ukraine, where Bonus Technology has a majority of its development staff, was an exciting and challenging new geography for Wizarth to work in. We believe the success of this merger will drive increased interest in transactions between Indo/US firms and those in Ukraine and surrounding ex-USSR countries."
About Wizarth: Wizarth is a boutique M&A and Private Equity Advisory firm focused on cross-border transactions in the IT services and BPO industries. Our primary location is in Mumbai, India, and we have a corporate presence and
partner relationships in the US and Europe. Our key strength is that we bring a rich mix of experiences in technology, software services, offshoring/outsourcing, finance, and operations, to bear on achieving superior results for our clients. For more information about us, our services, and the transactions we have closed,
please visit us at www.wizarth.com or contact us by email at deals_info@wizarth.com.
The merger is the result of an equity swap, and no price was placed on the value of the transaction. The merger is effective Sept. 25.
According to Nick Sage, CEO of Bonus Technology, "Wizarth was instrumental in introducing Bonus Technology to the idea that a merger with IndusLogic will create an unrivaled powerhouse of software talent from Ukraine, India, and USA. Despite to the lack of prior deals of similar nature and complexity, Wizarth was able to guide Bonus Technology with a mix of hard work, knowledge, and creativity."
Jiten Apte, CEO of Wizarth added, "Ukraine, where Bonus Technology has a majority of its development staff, was an exciting and challenging new geography for Wizarth to work in. We believe the success of this merger will drive increased interest in transactions between Indo/US firms and those in Ukraine and surrounding ex-USSR countries."
About Wizarth: Wizarth is a boutique M&A and Private Equity Advisory firm focused on cross-border transactions in the IT services and BPO industries. Our primary location is in Mumbai, India, and we have a corporate presence and
partner relationships in the US and Europe. Our key strength is that we bring a rich mix of experiences in technology, software services, offshoring/outsourcing, finance, and operations, to bear on achieving superior results for our clients. For more information about us, our services, and the transactions we have closed,
please visit us at www.wizarth.com or contact us by email at deals_info@wizarth.com.
Email
Print
SPAM
