ICT Group, Inc. ICTG Acquired by Sykes Enterprises Inc. SYKE for $263 million
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ICT Group, Inc. ICTG Acquired by Sykes Enterprises Inc. SYKE for $263 million
The deal is done and ICT Group Inc. (ICTG) has apparently signed on the dotted line for the acquisition by Sykes Enterprises Inc. (SYKE) to the tune of $263 million or $15.38 per share.
Both companies provide customer-contact and business-process-outsourcing, ICT Group is presently located in Newtwon, PA with Sykes in Tampa, FL.
The deal has been approved by both BODs with John J. Brennan, Donald Brennan and Eileen Brennan, agreeing to vote their shares (39 percent) in favor of the acquisition.
Currently ICT is trading 15.05 Up 4.50 (42.65%) and Sykes at 21.38 Up 1.23 (6.10%)
Sykes will pay $7.69 cash and $7.69 in stock, this totaling $15.38 which is 46 percent higher than Mondays closing price.
The deal is set for completion near the end of this year.