AMERI Holdings Offers Public Proposal To Acquire Edgewater Technology

NASDAQ ICON

AMERI Holdings Offers Public Proposal To Acquire Edgewater Technology

Ameri Holdings, Inc. (AMRH) announced Monday a public proposal to acquire Edgewater Technology, Inc. (EDGW) valuing Edgewater at a price of $8.50 per share. Earlier, Edgewater has rejected Ameri100’s private proposal.

Further, the company said Ameri100 will form a group with Lone Star Value Management, LLC for the purposes of reconstituting the Edgewater Board for the benefit of all Edgewater shareholders. The Shareholder Group owns 625,000 shares of EDGW, representing an approximate 5.3% ownership stake in Edgewater.

Ameri holdings also noted that the IT services industry, in which Ameri100 and Edgewater compete, can be bifurcated into two distinct business models: US-based and India-based. Edgewater has all of its employees based in the US with no presence in India while Ameri100 has about one-third of its employees based in the US and two-thirds based in India.

Reference : NASDAQ News, Paulo Santos:seekingalpha.com, NJbiz, Octafinance.com