Analysts International Acquires Redwood Solutions8 April 2005
Analysts International Corporation (NASDAQ:ANLY) today announced that it has acquired the assets of Redwood Solutions, a Michigan-based information technology services company that specializes in integrating hardware and software solutions for data storage and retrieval systems. As a result of the agreement, all of Redwood Solutions' assets, employees and service offerings will become part of Analysts International's Storage Solutions Group. Terms and conditions of the transaction were not disclosed, but Company officials noted that the consideration for the acquisition would come from current cash resources, common stock and a management earn out.
The demand for storage solutions -- technology and applications that manage and protect data -- is growing rapidly as a result of the increased federal requirements for the archiving of records and communications in key industries like healthcare and financial services. Also fueling the trend is the rising demand for business continuity and disaster recovery systems. According to industry experts, the global market for storage management software is expected to reach $7.1 billion by 2008.
"Some companies are doubling the amount of data they store every year," said Jeff Baker, president of Analysts International. "The need to archive e-mail, financial records and operational databases is now part of the cost of doing business. We expect the demand for storage solutions to continue to grow as organizations address the need to manage and secure massive amounts of data while reducing their total cost of ownership. This agreement with Redwood Solutions is another step in our strategy to provide advanced technology products and services to our clients."
"As a leader in delivering storage technology, we are very pleased to join Analysts International and look forward to being part of one of the nation's leading technology delivery companies," said Marc Grove, president of Redwood Solutions. "By combining our capabilities in providing specialized storage solutions and services with Analysts International's expertise in integrating emerging technologies, we are able to offer our customers an expanded set of products and services in this critical business area."
About Analysts International
Analysts International is a global technology services company with annual revenue of more than $330 million. Headquartered in Minneapolis, the company is a leader in implementing and managing technology solutions, committed to helping businesses become more adaptive, competitive and profitable. Working with industry leaders to expand our capabilities and value for our customers, Analysts International has established a loyal following of more than 1,000 client organizations, ranging from Fortune 50 global companies to mid-tier industry leaders. The company's nationwide network of offices and customer service sites allows us to adapt resources and services for any size project or supplemental requirement. Our clients benefit from a single point of contact across the full range of IT services. Analysts International's lines of business include Technology Integration Services for applications and hardware; Advisory Services for optimizing IT investments; Outsourcing Services with local, national and international capabilities; and Staffing Services to support human capital management needs. For more information, visit http://www.analysts.com/ .
Media Contacts: Jeff Baker Bill Bartkowski President Partner Analysts International MeritViewPartners Phone: 952-835-5900 Phone 612-605-8616 jpbaker@analysts.com bartkowski@meritviewpartners.com Source: Analysts International Corporation
CONTACT: Jeff Baker, President of Analysts International, +1-952-835-5900, jpbaker@analysts.com , or Bill Bartkowski, Partner, MeritViewPartners, +1-612-605-8616, bartkowski@meritviewpartners.com
Web site: http://www.analysts.com/
Source: dBusinessNews Minneapolis
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Articles
|