29 Jun 2018
Reply (MTA, STAR: REY) a European IT service provider and media conglomerate, agreed to acquire CSPi GmbH Technology Solutions, the German operations of CSPi (NASDAQ:CSPI), a provider of IT managed services, security solutions and packet capture products, for EUR 10 million in cash.
Reply [MTA, STAR: REY] is a network of highly specialized companies that support leading industrial groups in optimizing and integrating processes, applications and devices using new technology and communication paradigms such as big data, cloud computing, digital communication, Internet of Things, and mobile and social networking.
CSPi (NASDAQ:CSPI) maintains two distinct and dynamic divisions – High Performance Products, including the Cybersecurity Center of Excellence, and Technology Solutions – with a shared vision for technology excellence. CSPi’s cybersecurity solutions protect an organization’s critical assets to minimize or remove the impact of data breaches. CSPi’s Technology Solutions division helps clients achieve their business goals and accelerate time to market through innovative IT solutions and security services by partnering with best in class technology providers.
The sale, which is expected to close during the fourth quarter of fiscal 2018, is subject to various closing conditions, including, among others, the approval of the German Federal Cartel Office.
Clairfield International acted as exclusive financial advisor to Reply.