New Jersey, Sept 27, 2006 : IndusLogic, a Vienna, Virginia based, leading global provider of outsourced product development services, and Bonus Technology, a New Jersey based software engineering services company with significant operations in the Ukraine, have announced that they are merging.To better symbolize their expanded worldwide presence resulting from this merger, IndusLogic is changing the company's name to GlobalLogic. Wizarth Corporation (www.wizarth.com)
The merger is the result of an equity swap, and no price was placed on the value of the transaction. The merger is effective Sept. 25.
According to Nick Sage, CEO of Bonus Technology, "Wizarth was instrumental in introducing Bonus Technology to the idea that a merger with IndusLogic will create an unrivaled powerhouse of software talent from Ukraine, India, and USA. Despite the lack of prior deals of similar nature and complexity, Wizarth was able to guide Bonus Technology with a mix of hard work, knowledge, and creativity."
Peter Harrison, CEO of Globallogic added, "We are happy that Wizarth brought a company as unique as Bonus Technology to us. Jointly, we have become stronger because of a bigger client base and richer mix of skills as well as geographies from which to deliver."
About Wizarth: Wizarth is a boutique M&A and Private Equity Advisory firm focused on cross-border transactions in the IT services and BPO industries. Our primary location is in Mumbai, India, and we have a corporate presence and partner relationships in the US and Europe. Our key strength is that we bring a rich mix of experiences in technology, software services, offshoring/outsourcing, finance, and operations, to bear on achieving superior results for our clients. For more information about us, our services, and the transactions we have closed, please visit us at www.wizarth.com or contact us by email at deals_info@wizarth.com
