Intelligroup Inc, the Edison, New Jersey-based IT services company, has acquired privately held New Zealand-based management consultancy, Azimuth Group, for approximately $16.1m. Intelligroup, which works with medium-sized companies on ERP integration, internet application development and application maintenance, has been trying to expand into higher-end consultancy services and the purchase of Azimuth is part of this […]
Intelligroup Inc, the Edison, New Jersey-based IT services company, has acquired privately held New Zealand-based management consultancy, Azimuth Group, for approximately $16.1m. Intelligroup, which works with medium-sized companies on ERP integration, internet application development and application maintenance, has been trying to expand into higher-end consultancy services and the purchase of Azimuth is part of this move. Intelligroup issued 902,928 shares for Azimuth, which at Wednesday’s stock quote of 17 7/8 is approximately $16.1m, and the acquisition will contribute to its earnings per share in the first quarter of fiscal 1999.
