Paradyne acquires LGI for $4.75 mn

MUMBAI: IT services provider, Paradyne Infotech has signed an agreement to acquire 100 per cent stake in Links Group International Inc, a Virginia-based software services company for $ 4.75 million in an all cash deal.

Both the parties signed the agreement through Dyne Techservices Inc, a wholly owned subsidiary of Paradyne,

The funding would be done via debt and internal accruals. LGI’s current year revenue is above $7 million and gross profit is above $1.4 million, Paradyne said in a statement on Wednesday.

The acquisition is in line with the company’s strategy to grow multifold through a combination of organic and inorganic growth and spread its geographical risks, the statement added.

Commenting on the acquisition, Annand Sarnaaik, MD and CEO, Paradyne Infotech, said, “The acquisition would further strengthen our position in the US market and create inroads for a host of services that we have to offer. The resources at Paradyne would enhance LGI Inc’s offerings to its customers and tap newer clients. The combined skill sets of Paradyne and LGI Inc. would work synergistically driving growth within the US market.”

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