Charlotte, NC; July 2, 2007 - DecisionPoint International, a boutique Investment Bank providing merger and acquisition services to middle-market technology clients, announced today that its client, Edgewater Technology, Inc. (NASDAQ: EDGW, "Edgewater" or "Company"), a technology management consulting firm specializing in providing premium IT services, has completed the acquisition of Alecian Corporation ("Alecian"), a Fairfield County, CT-based business, which specializes in the implementation of Corporate Performance Management ("CPM") solutions.
The acquisition is expected to:
Be immediately accretive to earnings;
Enhance Edgewater's CPM offerings;
Strengthen the delivery of financial management solutions;
Provide additional scale to our national CPM/BI practice; and
Be highly leveragable with Company's other business offerings.
"We are delighted to welcome Alecian to the Edgewater organization and their strategic capability to our CPM suite of services," stated Shirley Singleton, President and Chief Executive Officer of Edgewater. "Alecian has highly-valued expertise in delivering CPM solutions which enable CFOs to monitor enterprise-wide Sarbanes Oxley compliance and results across the enterprise. Alecian's niche practice further enhances our current CPM offering and provides additional cross-selling opportunities within our Business Consulting and Technology Consulting offerings."
Headquartered in Fairfield County, CT, Alecian is a strategic technology and business consulting firm that has delivered its services to such organizations as Autonation; Sara Lee; Goldman Sachs and Johnson Controls. Alecian specializes in delivering financial management solutions that assist organizations in making strategic and operational decisions within today's stringent reporting regulations.
"We're excited to be joining the Edgewater organization," stated Kevin Burns, CEO of Alecian. "By combining our expertise in CPM with Edgewater, we can further assist organizations in the development of effective, integrated financial management solutions enabling them to report critical financial data in a dynamic and consolidated manner."
About Edgewater Technology, Inc.
Edgewater Technology, Inc. is an innovative technology management consulting firm. We provide a unique blend of premium IT services by leveraging our proven industry expertise in strategy, technology and corporate performance management. Headquartered in Wakefield, MA, we go to market by vertical industry and provide our clients with a wide range of business and technology offerings. For further information, visit www.edgewater.com.
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Doug Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.