Paranet™ Solutions Acquires Knowledge Tranzfer, Inc and Abacus Technical Services, Inc.

May 7, 2009 - PRLog -- Dallas, TX – August 18, 2008 – Paranet™ Solutions, LLC, a leading global provider of services and solutions for information security and storage, telecom, knowledge management and business process improvement, and strategic staffing resources, announced today that it has acquired two Dallas-based technology companies. Knowledge Tranzfer, Inc. (www.knowledgetranzfer.com) and Abacus Technical Services, Inc. (www.abacustechnical.com) are now Paranet™ companies.

Knowledge Tranzfer and Abacus Technical Services brands will be retained and grown. Both organizations will operate separately under Paranet™ Solutions, LLC. Steve Gunner, President of Abacus Technical Services and Norman Muttitt, President of Knowledge Tranzfer will report directly to Alan Bratton, CEO of Paranet™. The combined organization has approximately 200 employees.

“It is with great pleasure that I announce this acquisition and expect it to be the first of several as we set our sights on accelerating our growth,” said Alan Bratton, CEO of Paranet™ LLC. “Together we have a more comprehensive technology services and solutions suite, more opportunities with new customers across the respective organizations, greater career optimization for everyone and an international presence with offices in Europe and South America.”

Knowledge Tranzfer is a leading provider of CRM solutions to companies all over the world. Specializing in operational and analytical CRM the company solves complex business problems through sales force automation, database marketing and analytics, business intelligence, call centers and customer service. Knowledge Tranzfer is an Infor-CRM- Epiphany™ and Salesforce.com™ partner.

Abacus Technical Services is a premier provider of highly-skilled IT professionals on a contingent and full-time basis. The company serves many of the world's largest firms. Abacus is a trusted partner for managing their IT projects, recruiting qualified IT staff and solving their business problems through technology.

“We're excited to be part of the Paranet™ Solutions family and look forward to rapidly growing together,” said Norman Muttitt, President of Knowledge Tranzfer. “There is greater power in numbers and the synergies between the companies will provide each with incremental growth opportunities.”

“As a combined organization we have widened our solutions offerings which will benefit our customers and employees,” Steve Gunner, President Abacus Technical Services. “Our staffing component can provide a new pipeline of talent and together we all now have a presence in Europe and South America.”

The lead capital partner for the transaction was Valeo Capital, LLC (www.valeocapital.com), a Dallas-based private equity firm. Its investment niche is middle-market, basic industry and technology companies with proven growth and management talent that have the potential to dominate a category with significant capitalization and additional executive resources.

"We feel that Knowledge Tranzfer and Abacus are ideal compliments to Paranet's™ platform of services. Combined, these companies are aligned for continued profitable and accelerated growth and we're excited about supporting that growth as their capital partner," said Bobby Baggett, Valeo's managing partner who also serves as interim CFO of the Paranet™ group of companies.

http://paranet.com/paranet-solutions-acquires-knowledge-t...