Thursday, July 10, 2008
En Pointe Technologies Sells IT Services Business
Los Angeles-based En Pointe Technologies said late Wednesday evening that it has sold its IT services business, which is part of its wholly-owned subsidiary, En Pointe Technologies Sales, Inc. According to En Pointe, which provides IT products and services to businesses, it is selling its service business to Allied Digital Services Ltd., an Indian corporation, in a deal worth approximately $24M. Allied Digital Services Ltd. is a publicly traded corporation in India providing IT management and technical services outsourcing. The deal includes the transfer of what the firm describes as "substantially all" of its service employees and related contracts. The deal is made up of $10M in cash, plus 745,000 shares of ADSL stock, which is traded on the Bombay Stock Exchange.