Application service provider NaviSite Thursday announced plans to purchase managed service provider Surebridge for a combination of cash and stock worth about $41.5 million.
In a conference call Thursday morning, Arthur Becker, CEO of Andover, Mass.-based NaviSite, said the acquisition would help the company expand its operational platform and add more than $10 million per quarter to its quarterly revenue.
"Surebridge's product maturity, technical expertise, and partnerships with Microsoft and PeopleSoft provide a strategic fit [for us]," he said. "We believe the combined organization will be well-positioned to become a leader in providing a broad range of application services to midsize enterprises."
Channel programs from both companies were expected to merge into one.
The deal is expected to occur by the end of May.
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