The US hardware integrating division of Logicalis Group, has acquired Solution Technology Inc, one of IBM’s top ten integrating partners, for a reported $215.7m in cash and stock.
STI, an Indianapolis, Indiana-based integrator with annual revenue of $90m will enable Logicalis US to exponentially grow its IBM product and services business from some $10m per annum currently to approaching $100m, according to Logicalis.
The company will remain as a separate subsidiary until the end of 2004, and will be integrated into Logicalis over 2005. Bloomfield Hills, Michigan-based Logicalis has also announced that it is in the process of purchasing a regional Hewlett-Packard technology reseller. The negotiations are in the early stage however and the target company has not been disclosed.