AT&T concluded the transaction today after the two companies received all necessary approvals. In September, AT&T announced it would acquire USi for approximately $300 million in cash and assumed debt.
The acquisition of USi, a leading independent applications services provider, opens the doors for AT&T to tap into the burgeoning applications management market.
IT market research and advisory firm IDC estimates that application management services represented a $20.4 billion market worldwide and a $9 billion market in the United States in 2005, and expects both markets to continue to experience growth. (Source: IDC, Worldwide and U.S. Application Management Services 2006-2010 Forecast Update, Doc #203607, Sept 2006.)
With today’s announcement, USi joins AT&T’s existing enterprise services organization. AT&T expects to retain USi’s management team and its domestic and international operations. [October 20, 2006]
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