Systech offers consulting, systems integrations and application development and maintenance services for a range of SAP products, such as ERP, CRM, and business intelligence. The company has development centers in San Jose, California and India.
ACS said the transaction, to be funded though cash and its existing credit facility, would strengthen its SAP business in the mid-market
In related news, ACS announced that it won’t meet last week’s deadline for the filing of its annual report for the fiscal year ended June 30, 2006, on account of the company’s investigation into its past stock options practices. The SEC is already informally looking into the matter, and ACS expects to complete its internal review in the current quarter.
Moody’s Investor Service yesterday also placed ACS’ bond status on review for downgrade due to the stock options probe. ACS is currently rated Ba2, which is the second-highest rating for junk bonds.
Fellow ratings agency Fitch Ratings on Friday put ACS on a negative ratings watch after the company announced its delayed filing.
