IT services provider Ness Technologies has signed a definitive agreement to acquire business intelligence consulting group Gilon Business Insight, in a move to strengthen its position as a provider of enterprise offerings with a blend of ERP, BI and CRM capabilities.
The purchase price in the all cash transaction is NIS65m, or approximately $17.5m. In addition, Ness has agreed to pay an additional amount of up to NIS9m, or approximately $2.4m, should Gilon achieve certain performance goals.
Headquartered in Israel, Gilon Business Insight offers an array of BI services, including strategic consulting, enterprise analytical services, industry-specific offerings and implementation capabilities.
As of the end of December 2009, Gilon had approximately 230 employees and it currently has 280 employees, mainly in Israel. The acquisition is expected to close during Q2.
Larry Scott, president of Ness Global Industries, said: Gilon complements our strong presence in the North American business intelligence marketplace, enabling us to deliver state-of-the-art business intelligence solutions and systems using a multi-shore delivery model.
“Business intelligence solutions are one of our most important global capabilities, as enterprises around the world struggle to turn massive amounts of data into meaningful, actionable business knowledge.
