Ciber acquires SCB
Ciber Inc. is acquiring SCB Computer Technology Inc., an IT services and consulting company, in a $55.9 million cash and stock deal.
The acquisition will provide Ciber with new clients in both the federal and state government markets. About 50 percent of SCB's revenue is from the federal sector, with about 35 percent coming from state and local clients.
Through the agreement, Ciber of Greenwood Village, Colo., is acquiring Memphis, Tenn.-based SCB's balance sheet, which has $51 million in assets, $29.5 million in liabilities and $21.5 million of net worth as of July 31, its last public filing.
Each SCB shareholder will receive $2.15 per share for 26 million shares. The deal is a mix of $1.08 in cash and $1.07 of Ciber common stock per share.