Datalink Announces Intent to Purchase Strategic Technologies
Acquisition Will Expand Market Share in North Carolina, Florida and the Mid-Atlantic
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- Datalink (NASDAQ: DTLK), a leading provider of data center infrastructure and services, today announced a definitive agreement to acquire substantially all of the assets, and liabilities, of Cary, North Carolina-based Strategic Technologies, Inc. (“StraTech”). StraTech is an IT services and solutions firm that shares Datalink’s focus on optimizing enterprise data centers and IT infrastructure through a common product and services portfolio designed to help customers increase business agility.
The acquisition will be Datalink’s second in the last 12 months following the purchase of Minneapolis-based data center IT services firm Midwave Corporation in October 2011. Both transactions are part of Datalink’s ongoing objective to accelerate business growth through both organic and acquisition strategies.
The transaction has been approved by the boards of directors of both Datalink and StraTech, as well as StraTech’s sole stockholder and is expected close on or about October 4, 2012 upon satisfaction of certain closing conditions.
Conference Call and WebcastDatalink will hold a conference call once the transaction closes, which is anticipated to be on October 4, 2012. Conference call details will be provided once the actual closing date is known.
I was thinking the trading in dtlk was a little odd the last several days, with volume coming on the upticks. Based on that, i'd expect the terms to be favorable and for this to be accretive to earnings. Hopefully this is the catalyst to get the stock over 10 again ...