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Computer Horizons, Analysts International To Merge
The two will form a $600 million-a-year IT services company under the name Computer Horizons. Headquarters will be in Minneapolis, where AIC is located.
April 14, 2005
1 Min Read
IT services firms Computer Horizons Corp. (CHC) and Analysts International Corporation (AIC) are combining to form a $600 million-a-year IT services company. The Computer Horizons name will survive and the firm will be headquartered in Minneapolis where AIC has been located.
Announced late Wednesday, the companies billed the transaction as "a merger of equals" that will employ some 5,000 consultants working out of 50 offices in 28 states, Canada, the U.K., and India.
"CHC and Analysts have very little client overlap," said CHC president and CEO William J. Murphy in a statement. "Only eight of our top 50 customers are shared by both companies." Murphy added that about $15 million should be saved by merging, much of it by eliminating duplicate facilities and infrastructure.
In addition to providing services for many of the nation's Corporate 1000 companies, the combine will have a government practice serving federal, state, and local government agencies with annual sales of about $65 million. The new entity will also continue delivering services to mid-tier markets.
IT professional services to be offered by the combined company will include data management, infrastructure support, and application management and development.
Computer Horizons will be led by Murphy and Jeffery P. Baker, president of Analysts International. Each firm will supply five members to the board of directors.
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