Stefanini International Holdings acquires Southfield's TechTeam Global for $93M

Thursday, November 4, 2010 | Source: Metromode
Stefanini International Holdings has acquired TechTeam Global for $93.4 million, a deal which will merge one of the multinational's affiliates with the Southfield-based IT firm.

The immediate impact on TechTeam Global's southeast Michigan operations is yet to be revealed.  The company employs 2,100 people around the world, with sizable workforces in both Southfield and Ann Arbor. TechTeam Global did not respond to requests for comment.

TechTeam Global provides IT outsourcing and business process outsourcing services around the world. Brazil-based Stefanini International Holdings specializes in onshore and nearshore IT consulting, outsourcing, and development services. It is acquiring all of TechTeam Global's stock (it's traded on the Nasdaq) at $8.35 a share in a deal that is expected to be consummated in the fourth quarter. Marco Stefanini, chairman of Stefanini International Holdings, called the acquisition a "significant step in Stefanini IT Solutions' strategy of expanding its international presence" in the press release.

TechTeam Global sold one of its subsidiaries last summer. Jacobs Engineering Group acquired TechTeam Government Solutions for $59 million.

Source: TechTeam Global
Writer: Jon Zemke

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