HACKENSACK, New Jersey, October 3 -- Ness Technologies, Inc. (NASDAQ: NSTC), a global provider of information technology services and solutions, today announced that it has completed the acquisition of MS9 Consulting LLC, a privately-held IT services company based in the United States with a strong presence in the life sciences industry.
The purchase price was $11.4 million, with an additional amount to be paid in the future based on the achievement of certain performance goals over the next two years. For the full year 2006, MS9 generated revenues of over $13 million and was profitable.
MS9 provides information technology, business advisory and management consulting services to the life sciences industry, specifically to healthcare companies. These services include change management, business transformation, architecture, business process re-engineering, and strategic technology services, among others. MS9's clients include Kaiser Permanente, Novartis, Bayer and Lucille Packard, among others.
"The acquisition of MS9 Consulting is another milestone in the strengthening of Ness' activities in the North American market," said Sachi Gerlitz, president and CEO of Ness Technologies. "This acquisition expands our service portfolio and strengthens our presence in the healthcare and pharmaceutical markets, in which MS9 has built an excellent reputation. This strategic acquisition will enhance our global delivery capabilities and accelerate the expansion of our unique offshore service delivery model within the life sciences vertical."
"We welcome MS9's talented and highly skilled professionals and expect them to provide leadership and help build a strong presence for Ness in the life sciences vertical," said Rajkumar Velagapudi, president of Ness Innovative Business Services, who identified and facilitated the acquisition.
"We are delighted to join Ness Technologies, an outstanding global company that offers great opportunities for professional development and growth," said Elaine Wischmann, co-founder and now executive vice president of sales and marketing for MS9. "We look forward to leveraging the combined experience of Ness and MS9 on a wide variety of business solutions and offshore services."
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT services and solutions designed to help clients improve competitiveness and efficiency. Ness specializes in outsourcing and offshore, systems integration and application development, software and consulting, and quality assurance and training. With 7,500 employees, Ness maintains operations in 17 countries, and partners with numerous software and hardware vendors worldwide. For more information about Ness Technologies, visit www.ness.com.
About MS9 Consulting
MS9 Consulting was founded in 2004 to help enterprises gain competitive edge. MS9 provides state-of-the-art information technology solutions and services that simplify organizational initiatives and complexities while maximizing business productivity and drastically reducing total cost of ownership in the healthcare vertical. For more information about MS9, visit ms9consulting.com.
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Source: Ness Technologies Inc