CDC Corporation's subsidiary CDC Software (CHINA) has purchased the IT consulting services business of Horizon Companies for an undisclosed sum.
Horizon is a privately-held New Jersey company which principally offers outsourced information technology professional services in the United States and Canada utilizing India-based resources.
Horizon was founded in 1989 and currently employs over 200 IT consultants who staff several major contracts. Customers include AT&T, Citigroup, Dendrite International, Emerson Power, Henry Schein, Lucent, Pfizer and YS.
CDC Software expects the transaction to be earnings accretive beginning immediately since part of the consideration is to be paid on an earn-out basis.