Globo plc (GBO.L), a provider of enterprise mobility solutions, Monday announced the acquisition of the service division of the software developer Sourcebits, Inc. Globo expects the acquisition to be earnings accretive in the first year.
The company did not disclose the consideration for the transaction, but said in a statement that it was paid for in cash and that it was structured on a debt free and cash free basis.
The service division, based in San Francisco, California, with a development centre in Bangalore, India, has 167 employees and will become part of Globo's Mobility Business Services division.
"The quality of skills, clients and strong branding that Sourcebits adds to Globo will allow us to compete for more and larger Mobile Application Development projects and take advantage of our GO!Enterprise/ GO!AppZone MADP offering," said Globo's Chairman Barry Ariko.
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