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Ciber Does SCB
IT consulting firm Ciber Inc. announced today its plan to buy SCB Computer Technology, a marginally profitable IT services firm specializing in government sector work.
Ciber will pay about $56 million for SCB, a 16% premium on the seller's share closing price, and a value of about half SCB's revenue run rate.
Acquiring juggernaut Ciber is doing its part to consolidate the flagging US IT services industry. It's SCB purchase is preceeded by that of Decision Consultants, an IT consultancy with $120 million in sales, and of ECSoft for $52 million, expanding Ciber's services to the European market. Earlier, last June, Ciber bought US-based network integrator Alphanet Solutions for $29 million.
Following the SCB deal, Ciber expects revenue for this year to reach $850 million, of which about one third will be from government clientele. Ciber's market cap is about equal to its revenues.
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