Volt Information Sciences to be Acquired by Vega
Mar 14, 2022 By MarketDepth
Volt Information Sciences, Inc. (NYSE: VOLT) announced today that it has entered into a definitive merger agreement with Vega Consulting, Inc., under which Volt will be acquired for $6.00 per share in cash.
Close to 100% Premium on Stock Price
This per share purchase price represents a premium of 99% to the Company’s closing stock price on March 11, 2022.
Vega Consulting, Inc. is an affiliate of ACS Solutions.
“This acquisition offers Volt a compelling opportunity for continued growth. With ACS Solutions as our sister company, we will be in a position to accelerate investments in technology, enhance our capabilities, expand our operations, and ultimately deliver better value to our clients — all complementing the superior client service that has come to be synonymous with the Volt brand.”Volt’s President and Chief Executive Officer, Linda Perneau
The transaction is expected to close in the second calendar quarter of 2022 and Volt will thereafter no longer be a publicly traded company.
“We’re pleased to announce the plan to acquire Volt, and look forward to welcoming their talented teams to our family of companies. This transaction will diversify our business mix by adding a sizable commercial staffing and MSP business to our staffing services portfolio, further expanding our suite of services and offerings.”Raj Sardana, Chief Executive Officer of ACS Solutions