Blue Bell, Penn.-based Unisys Corporation, global IT solutions company, announced Tuesday it had acquired CompuGain, a leading cloud solutions provider, for $87.3 million.
The agreement was made on a cash-free, debt-free basis, the company said. CompuGain’s capabilities in application modernization, cloud-native agile application development, and cloud and hybrid cloud data management will deepen Unisys’ cloud offerings, the company said.
“Acquiring CompuGain will enable Unisys to enhance the delivery of rapid and agile cloud migration, application modernization and data value realization to our clients,” said Unisys Chair and CEO Peter Altabef. “CompuGain has a strong presence in financial services, which will add to our established position in that industry. It will also create cross-selling opportunities with both Unisys clients and CompuGain clients across multiple industries. Unisys expects the addition of CompuGain to drive revenue and profit growth and increased cash flow.”
Unisys said it funded the transaction through cash on hand. The deal closed with the signing of the acquisition agreement, the company said. CompuGain generated $58 million in annual revenue, as of Sept. 30, 2021, up 12 percent year over year. More than 90 percent of its revenue came from client relationships, the average tenure of which is more than nine years. Unisys said it expects that the transaction will be immediately accretive to adjusted EBITDA and free cash flow.
“CompuGain’s innovative solutions, talent and agility, combined with Unisys’ cloud expertise and global reach, will allow us to deliver desired business outcomes at a much larger scale,” said Debasish Hota, founder and CEO, CompuGain. “The combination of CompuGain and Unisys will unlock tremendous value for clients and be a force multiplier in the cloud and hybrid cloud market. We are delighted to become part of the Unisys family.”
The acquisition will deepen Unisys’ ability to deliver rapid and agile cloud migration, modernize applications, realize data value and enhance public cloud skill sets.
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