Stefanini IT Solutions Affiliate to Merge with TechTeam Global in $93.4 Transaction

TechTeam Global, Inc. TEAM today announced that the Company has signed a definitive agreement pursuant to which an affiliate of Stefanini International Holdings Ltd will merge with TechTeam Global. The transaction will be accomplished through an all-cash tender offer and second-step merger, for a total value of approximately $93.4 million. The definitive agreement was fully supported by TechTeam Global's Board of Directors and was the result of the Board of Directors and management's evaluation of various strategic alternatives for the benefit of all stakeholders. The transactions contemplated by the definitive agreement were unanimously approved by the Boards of Directors of both companies.