Narayan AmmachchiDigital transformation services provider AN Global has snapped up IT outsourcing firm 4th Source, gaining a wider foothold in the US and Mexican outsourcing market.
Founded in 2004 and headquartered in Tampa, FL, 4th Source has more than 600 employees who provide consulting, software development and application management services.
Dallas-based AN Global has not disclosed how much it paid, but reports say it borrowed US$80 million in loan from Monroe Capital Management Advisors for funding the acquisition.
With delivery centers in both Mexico and the United States, 4th Source says it is an alternative to offshoring services providers.
“We instantly felt a cultural alignment between our teams,” stated Federico Tagliani, CEO of AN Global.
“4th Source will expand AN Global US operations, solidify distinctive healthcare industry knowledge and positioning, and bring several long-time business relationships with reputable companies in healthcare and retail.”
The acquired company will continue to operate independently even after closer of the transaction and will retain all its current employees.
AN Global has delivery centers in nearly a half a dozen Latin American countries including Colombia, Brazil, Costa Rica, and Mexico. IT has employed more than 2,800 people and its services include analytics, omnichannel commerce, and software development.
“Advanced analytics, move-to-cloud programs and omnichannel strategy enablement are all capabilities our customers have been requesting,” says Chris Desautelle, 4th Source President & CFO, adding that the integration may enhances these capabilities.
Add comment