WAKEFIELD, Mass., May 18, 2010 (GLOBE NEWSWIRE) -- Edgewater Technology, Inc. (Nasdaq:EDGW) ( www.edgewater.com) ("Edgewater" or the "Company"), a consulting firm that brings a synergistic blend of specialty services to its clients in the areas of business advisory, analytics, data management and technology, today announced it has completed an asset acquisition with Chicago-based Meridian Consulting International ("Meridian"). Meridian is a specialty solution provider of Oracle's Hyperion Strategic Finance product ("HSF") which encompasses strategic planning and forecasting, scenario modeling and mergers and acquisitions analysis. The acquisition is expected to:
- Expand Edgewater's business advisory service capabilities to the Office of the CFO;
- Create a full suite of Oracle enterprise performance management ("EPM") offerings;
- Solidify Edgewater's geographical footprint in the Chicago/Mid-West area;
- Be easily packaged with the Company's other service offerings; and
- Be accretive to earnings.