SAN RAMON, Calif., Sept. 29, 2011 /PRNewswire/ -- Systems America, Inc. (OTC: SYAI) (the "Company"), a premier provider of cloud computing and information technology solutions, announced today that it has agreed on terms to acquire a large Information Technology Solutions Company focused on Business Intelligence and Data Warehousing.
The Company has agreed to acquire this Business Intelligence company in all cash payments. The Company expects to close the transaction with fresh issuance of debt. For 2011, once this transaction is completed along with other pending transactions, the Company's annual combined revenues are expected to be in excess of $53 million with adjusted EBITDA of approximately $6.2 million.
This potential acquisition company is a privately held provider of onsite consulting solutions, offsite delivery, and outsourcing focused on business intelligence, data warehousing, and content management to a wide range of clients.
"We are excited to announce plans to acquire this company which is part of our overall strategy to scale through strategic initiatives such as acquisitions," said Adesh Tyagi, Chairman & CEO of Systems America. "Their solution and services offerings, particularly their expertise in Business Intelligence and Data Warehousing, complement Systems America's services portfolio, as well as our target markets while giving us greater scalability in our operations."
About Systems America
Systems America is a premier provider of diversified cloud computing and information technology solutions to commercial and government clients worldwide. We are ranked one of the fastest growing companies with multiple locations around the world. Systems America delivers superior cloud computing, information technology consulting services, and systems and integration services to hundreds of clients worldwide. Building on a core competency of efficient technology infrastructure outsourcing, the company is headquartered in San Ramon, California, United States. For additional information about Systems America, please visit www.systemsamerica.com
Forward-Looking Statements Disclosure
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Systems America, Inc.