With the stock market unreceptive, many privately held technology companies are choosing a more certain payoff: selling themselves to larger companies
Steamboat Springs, Colo. (PRWEB) August 29, 2007 -- Rabbit Ears Capital Advisors, a boutique advisory services firm known for successfully brokering acquisitions from strategy and valuation through transaction structure, execution and integration, today announced its client Blue Hammock has been acquired by Global Consultants, Inc. (GCI), one of the fastest growing information technology services firms in the world.
“Not all start-ups want to go public. The goal, for many companies, is to sell themselves to larger companies,” said Bruce Daley, managing director at Rabbit Ears Capital Advisors. “With the goal of building and selling a profitable company, Eric Carlson and his team at Blue Hammock proved their mettle by managing through the most difficult era software services firms have ever faced. Founded at the height of the boom, Blue Hammock succeeded where 99 percent of its dot com contemporaries failed.”
Starting a company and taking it public has long been the goal of many technology entrepreneurs and the venture capital firms that back them. Now, though, with the stock market unreceptive, many privately held technology companies are choosing a more certain payoff: selling themselves to larger companies. “When a company is readying itself for acquisition, bringing in M&A experts is critical to success,” said Dave Sutton, managing director at Rabbit Ears Capital Advisors. “Deciding to sell is one of the biggest, most important, and stressful decisions a CEO has to make. Our job is to help CEOs navigate the acquisition terrain so they can make the best possible match for their company, for the best price.”
“Rabbit Ears Capital Advisors helped negotiate a deal that enabled both companies to accelerate their respective strategies,” said Eric Carlson, CEO, Blue Hammock. "The principals come from the consulting business and have been through M&A from both the buy and sell side many times. We benefited from their experience and advice related to the mechanics of the deal, overcoming obstacles, understanding the motivations of the buyer. The experience and advice they provided proved very valuable."
With the acquisition of Blue Hammock, a business and technology consultancy focused on business intelligence, GCI enhances its strategic consulting, business analysis and project management capabilities, and increases its ability to offer customers end-to-end information technology services while following a “BestShore” approach. Terms of the deal were not disclosed.
About Blue Hammock
Blue Hammock is a business and technology consulting company focused on Data Management and Customer Relationship Management (CRM) strategy and implementation. Founded in 2000, Blue Hammock’s focus on these core strengths enables the development of the knowledge and expertise required to provide fixed-price, fixed-time solutions to clients. Working with the brightest minds in the business intelligence industry, Blue Hammock is able to bring a unique methodology and approach to engagements develops the motivation and atmosphere required to make data management or BI initiatives a success. Blue Hammock is dedicated to always delivering a quantifiable return on investment to its clients.
About GCI
Established in 1991, Global Consultants, Inc. (GCI) is one of the fastest growing end-to-end information technology services and solutions firms worldwide. GCI's client-centric philosophy, commitment to service excellence and BestShore global engagement model enables its Fortune 500 clients to succeed in today's global digital economy. With over 3500 IT professionals globally, GCI provides onsite, offsite and offshore technology services and solutions to leading financial services, telecommunications, manufacturing, retail and logistics corporations. The privately held company has offices in the U.S., Europe, and India with six global delivery centers including the recent expansion into China. For more information, visit www.g-c-i.com
About Rabbit Ears Capital Advisors
Rabbit Ears Capital Advisors, LLC is a boutique advisory services firm offering consolidation, negotiation, and integration services to IT services and software firms. Headquartered in Steamboat Springs, Colorado, Rabbit Ears Capital Advisors also has offices in Denver, Colorado and Atlanta, Georgia. For more information, please visit www.rabbitearscapitaladvisors.com on the web.
For further information, contact: Rabbit Ears Capital Advisors – Bruce Daley, Managing Director (303) 399-8399 or bruce.daley @ rabbitearscapitaladvisors.com and Dave Sutton, Managing Director (404) 231-9137 or dave.sutton @ rabbitearscapitaladvisors.com.
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