Wizarth Corporation advises Bonus Technology in its merger with IndusLogic to form GlobalLogic.
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."
Peter Harrison, CEO of Globallogic added, "We are happy that Wizarth
brought a company as unique as Bonus Technology to us. Jointly,
we have become stronger because of a bigger client base and richer mix
of skills as well as geographies from which to deliver."
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 [at] wizarthadvisors [dot] com |
