DST Systems, Inc. announces agreement to acquire Amisys Synertech, Inc.. Check it out:
(Science Letter Via Thomson Dialog NewsEdge)
DST Systems, Inc. (DST) has signed a definitive agreement to acquire Amisys Synertech, Inc. (Amisys) through a merger with a wholly owned subsidiary of DST Health Solutions, Inc.
Financial terms of the transaction were not disclosed.
Amisys is an enterprise software developer, software applications service provider, and business process outsourcer for the U.S. commercial healthcare industry. Amisys reported revenues of $103.4 million for the year ended December 31, 2005 and $65.1 million for the seven months ended July 31, 2006. Amisys has approximately 1,400 employees located in three principal locations: Harrisburg, Pennsylvania; Rockville, Maryland; and Hyderabad, India.
The transaction is subject to regulatory approval and satisfaction of standard pre-closing conditions. Upon closing, which is expected to occur in the fourth quarter of 2006, DST will integrate the operations of Amisys with DST's wholly owned subsidiary DST Health Solutions, Inc. The integrated business unit will operate as DST Health Solutions. DST believes the expanded DST Health Solutions business will provide deeper product offerings to existing and new customers, as well as leverage DST's AWD and Output Solutions products.
Upon completion of the transaction, Amisys' financial results will be consolidated with those of DST. On a pro-forma basis, the transaction is not expected to have a material impact on DST's net income or earnings per share for 2006. DST will fund the acquisition with available cash balances and existing credit facilities.
This article was prepared by Science Letter editors from staff and other reports. Copyright 2006, Science Letter via NewsRx.com.
Copyright 2006 Science Letter via NewsRx.com
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