TDS to buy OneNeck IT Services for $95 mn

CALIFORNIA, USA: Telephone and Data Systems Inc (TDS) on Wednesday said it will acquire OneNeck IT Services for $95 million mainly to use the data center assets of the IT services company.

OneNeck offers network management, disaster recovery and security administration services under its enterprise resource planning (ERP) applications, the company said in a statement.

Stifel Nicolaus Weisel advised OneNeck in the transaction, which is expected to close next month.

OneNeck generated $37 million in revenue in 2010.