CIBER, Inc. (NYSE:CBR) a leading international information technology consulting, outsourcing and services company reported a deal to offer its Infor Practice to Infor, a major provider of business applications particular by industry and made for the cloud. The company has remained an Infor Alliance Associate since 2012.
Ciber’s Infor Practice provides integration, implementation and upgrade offerings pertaining to Infor software to clients in Europe and North America. Employees from company will transition to Infor after the deal closes.
Michael Boustridge, the CEO and President of CIBER, Inc. (NYSE:CBR), reported that the sale of Infor Practice highlights a fundamental decision to streamline their business to a dedicated IT staffing foundation with corresponding unified Business Consulting and Application Development Management proficiencies in a Digital Transformation offering. The company is working to offer a seamless transition and remarkable service and continuity to affected customers and company’s employees.
Infor develops business software for specific markets in the cloud. With more than 90,000 clients and 15,000 employees in more than 170 nations, Infor software is intended for progress. Ciber associates with organizations to advance technology strategies and offerings that bring tangible business value.
The updates
Prior to this update, CIBER obtained an initial, non-binding LoI from Ameri Holdings, Inc. to acquire, impacted by a merger, the firm for a mix of cash and preferred securities, which Ameri values at $0.75/share of CBR.
In consultation with independent legal and financial advisors and consistent with its fiduciary responsibilities, Ciber’s Board is carefully considering and assessing Ameri Holdings’ proposal to decide the course of plan that the Board considers is in the best interest of the firm and all Ciber stockholders. It should be noted that Ameri recently reported Q4 2016 results, and the revenue in reported quarter stood at more than $12.3 million compared to more than $7.5 million in Q4 2015.
Giri Devanur, the CEO of CIBER, Inc. (NYSE:CBR), reported that they surpassed projections for growth in FY2016 by a notable figure with YoY revenue growth of 78%. The team successfully closed eight deals since 2013, which has built Ameri100’s position as a major system integrator in the digital enterprise services and SAP cloud industry.
They consider the company’s existing focus on SAP cloud offerings and financial position, along with hybrid U.S. and offshore business setup, will lead Ameri100 in the market. Ameri100 anticipates to continue to surge revenues through organic growth and additional acquisitions.
With all other factors considered, CIBER, Inc. (NYSE:CBR) has witnessing a free fall, dropping over 55% in less than three months. In the last trading session, CBR dropped 0.45% to close the day at $0.310.
| 4/07/2017 | |
| Ticker Symbol | CBR |
| Last Price a/o 3:21 PM EST | $0.31 |
| Average Volume | 2.05M |
| Market Cap (mlns) | $ 25.40M |
| Shares Outstanding (mlns) | 81.94M |
| Share Float (mlns) | 72.84M |
| Inside Ownership | 9.40% |
| Short Float | 7.63% |
| Short Interest Ratio | 2.70 |
| Quarterly Return | -56.34% |
| YTD Return | -50.79% |
| Year Return | -85.51% |
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.
