This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

StraTech Assets Acquired By Datalink

CARY, N.C. and NEW YORK, Oct. 5, 2012 /PRNewswire/ -- StraTech, a brand of Midas Medici Group Holdings, Inc. (OTCQX: MMED), today announced the closing of the transaction to sell the majority of its assets. Both StraTech and Datalink focus on optimizing enterprise data centers and IT infrastructure through common product and services portfolios designed to help customers increase business agility.  

Datalink purchased StraTech for a consideration of $20.25 million including the issuance of 269,802 shares of Datalink common stock, and subject to certain adjustments based on acquired assets and liabilities. Datalink assumed approximately $20.8 million of StraTech's liabilities and acquired approximately $16.0 million of assets. As part of the transaction,  Midas Medici also retained Stratech's real-estate portfolio asset valued at $5.0 million and entered into a long term lease with Datalink for part of the available square footage.  The closing of this transaction is subject to a final audit expected to be performed within the next 90-120 days. 

"We are pleased with the strategic sale of our StraTech business," said Nana Baffour, CEO and co-founder of Midas Medici and executive chairman of StraTech. "For the past two years, we have successfully grown StraTech and attracted several marquee customers to the organization, which Datalink considers to be valuable assets. We were able to do this in the midst of a severe economic recession as well as the significant adverse impact of SUN's acquisition by Oracle.  I am particularly proud of our leadership team and the talented employees at StraTech who made this possible, as well as the great customers that trusted us to serve them over the years."

"We have always strived to have the best possible environment to serve our customers and provide our employees with meaningful career opportunities," said StraTech President Bob McCarthy.  "Combining our assets with Datalink achieves this goal while enabling the business to maintain the excellent growth it has experienced over the past two years.  I am confident our customers will see great value in the combination of StraTech and Datalink,  and that our employees will continue to prosper.  I would also like to thank all of our employees for their contributions over the years to help make this transaction possible."

"StraTech has built a strong data center-focused business that closely aligns with our products, services, and approach to helping companies optimize their data center operations," said Paul Lidsky, president and CEO, Datalink. "These synergies, along with StraTech's solid customer base and large team of knowledgeable field personnel, will help us expand our regional and national footprint as we continue to help organizations take advantage of today's transformational data center technologies."

Datalink, based in Minneapolis, MN, will continue operations of most of StraTech services and offerings.  Datalink extended full-time positions to approximately 80% of StraTech's ninety-one employees.  An additional ten employees will work a transition services contract.  Transition services positions, primarily in accounting and internal IT, are redundant with current Datalink employees, and will be eliminated after the transition period.  

About StraTech

StraTech is a national provider of Data Center Services, IT Consulting, Infrastructure, and Support Services. A brand of Midas Medici Group Holdings, Inc., StraTech ( www.stratech.com) has over 20 years of expertise helping customers build, protect, manage, and support mission critical data center infrastructures.

About Midas Medici

Midas Medici Group Holdings, Inc. (OTCQX: MMED) is a managed IT services and infrastructure company that supplies mid-sized and select enterprises and institutions with leading-edge IT.  Across its Cimcorp, StraTech and UtiliPoint brands, Midas ( www.midasmedici.com) works with its customers by optimizing IT and data center investments, streamlining communications between departments, reducing costs and preventing data loss, all while maximizing productivity.

Media Contacts: Jonna MurnickVice President, Marketing StraTech+1 (704) 737-6131 jonna.murnick@stratech.com

Investor Relations: John Mattio, SVPMZ Group / Midas Medici+1 (212) 301 7130 John.mattio@mzgroup.us

 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs