Staffmark acquires Edgewater Technologies, Inc.
Boston, MA, May 19, 1999 – Staffmark, Inc’s IntelliMark IT services division yesterday announced the completion of its acquisition of Edgewater Technologies, Inc. (Edgewater), a leading developer of custom electronic commerce software solutions. The principals of Mirus Capital Advisors, retained on an exclusive basis by Edgewater, initiated the transaction, acted as financial advisor to the selling stock-holders, and participated in the negotiations leading to its successful conclusion.
According to Ben Anderson, president of IntelliMark, Edgewater represents the “missing link” to the service spectrum of IntelliMark. “Our strategy is to leverage the E-solutions to Edgewater’s custom development clients.” Shirley Singleton, Edgewater’s founder, claims that “IntelliMark is an ideal fit with Edgewater in terms of culture, complementary services and potential synergies…In our opinion, joining IntelliMark was the best way to provide attractive new career opportunities to our employees and a more comprehensive suite of services to our clients.”
The successful close of Edgewater continues a long string of winning IT services transactions completed by RCW Mirus during the past two years. RCW Mirus continues to move aggressively into the IT vertical by advising clients in Internet services, systems integration, information technology staffing, and enterprise software. According to Jamie Grant, a Managing Director of Mirus involved with the Edgewater transaction, “The Edgewater transaction demonstrates our strong commitment to providing the best merger and acquisition services to the IT industry.”
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing, consumer products, health care, and the resort & hospitality industry. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations, and valuations. For additional information, visit www.merger.com.Back to Transactions