Pittsburgh, Pennsylvania services provider Mastech Corp has been continuing its rapid international expansion with the purchase of Quantum Information Resources, one of Canada’s largest privately-held technology services firms. Mastech last year raised more than $60m at IPO, some of which it said would be used for rapid international expansion (CI No 3,069), and it then promptly went out and bought Australian information technology and telecommunications services operation, Pacific Computer Consultants Pty Ltd (CI No 3,304). The Quantum transaction will be a stock purchase, accounted for as a pooling of interests, and the company says it will be accretive to future earnings. Toronto-based Quantum was founded in 1968, and now has more than 700 staff working out of offices in Ottawa, Montreal, Fredericton and Quebec City, and from five offices in the US. Projected revenue for the year ending June 30 1998 is $48m, and the company lists financial institutions such as the Bank of Nova Scotia and Royal Bank, and telecommunications companies such as Nortel in Canada, and AT&T Corp in the US among its major customers. Under the deal, Mastech’s Canadian offices in Toronto and Calgary will be merged with Quantum, and Quantum’s US business will become part of Mastech. Mastech co-founder and president Ashok Trivedi, said the combined companies will be one of the largest IT service providers in Canada. No further financial details were given.
