love the word "accretive" !!
CDC Buys Vis.align for Undisclosed Terms
Monday December 4, 10:20 am ET
CDC Buys Vis.align for Undisclosed Terms, Expects Deal to Be Accretive to 2007 Earnings
NEW YORK (AP) -- Hong Kong-based CDC Corp., a software company and owner of Chinese Internet portal China.com, said Monday its CDC Software subsidiary bought Vis.align Inc., a provider of information technology services.
The company did not give financial terms of the deal, which closed on Friday. Privately held Vis.align is based in West Chester, Pa.
CDC said the acquisition will help its software segment offer expanded services to its business customers.
Vis.align had 2005 sales of more than $20 million, CDC said. CDC added that it expects the acquisition to be accretive to its earnings in 2007.
The deal includes a two-year earn-out, which if achieved, will be paid in cash and CDC shares, the company said.
CDC's shares rose 17 cents to $9.04 in morning trading on the Nasdaq.
