The UK's AIT Group has acquired selected customer contracts and operating and trading assets from US-based CRM solution vendor Information Management Associates Inc (IMA), in an all cash deal worth $16.5 million.
The agreement specifically excludes any and all liabilities arising prior to completion.
AIT has previously worked closely with IMA, including a large project at Lloyds TSB where the company's CRM solution was integrated with IMA's call-centre solution, Edge.
Anne Gunther, managing director, direct channels, Lloyds TSB, welcomed the news: "The merger of the two companies will strengthen their existing relationship with Lloyds TSB and will ensure continued long-term investment in and support of our chosen products."
Paul Frederick, president of IMA, comments: "The main gap in our product offering, which contributed to our need to restructure, was the lack of Web enabling and multi-channel capabilities required by our customer base. This issue will be successfully addressed by immediate access to AIT's Portrait product set and provides significant long-term opportunities for IMA customers."
AIT believes that significant long-term sales opportunities will arise as IMA’s customers move towards broader-based CRM strategies that can be supported by AIT’s Portrait product.
IMA has over 50,000 installed licence seats in over 1000 customers in 27 countries.