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Systems America Entered Into Negotiations of Terms for Acquiring SAP and Oracle Services Companies
CAMPBELL, Calif., July 13, 2010 /PRNewswire via COMTEX/ -- Systems America, Inc. (Pink Sheets: SMAR) announced that the company has been reviewing acquiring several companies that would extend the company's service offering in United States, South America, and India. Most recently, the company has screened and discussed acquisition with more than 11 different businesses with range of revenues from $12 million to $110 million.
The company has signed non-binding terms with one acquisition target SAP service company with revenues of over $30 million for the year ended December 31, 2009. In addition, the company is negotiating terms with another acquisition target Oracle Services Company with revenues of over $22 million for the year ended December 31, 2009. The company expects to close a few of these acquisitions with cash and equity in Systems America. The company has also engaged Vanguard Management Corp., a division of Vanguard Minerals Corporation (OTC Bulletin Board: VNGM), for help in advising on potential acquisitions targets as well as International expansion. The company expects to grow and consolidate significantly its revenues and earnings in next twelve months.
Adesh Tyagi, Chairman and CEO of Systems America states, "Over the past few months, we have met with a number of exciting companies that would add lot of value in our service offering and extend our global reach. We believe that the 2nd half of 2010 will give us a number of opportunities to close on a few acquisitions globally and offer integrated products and services to our clients."
About Systems America
Systems America is a premier provider of diversified business process and information technology outsourcing solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. It began when a group of extraordinary operations and information technology professionals formed a company dedicated to fulfilling client needs. From a single financial industry client, Systems America expanded into the energy, financial, government, healthcare, retail, and travel industries. Today, Systems America delivers superior business process outsourcing, information technology outsourcing, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company, headquartered in Campbell, California, United States now supports operations in nearly 20 countries. For additional information about Systems America, please visit www.systemsamerica.com.
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