Computer Horizons Corp, the Mountain Lakes, New Jersey systems integrator has agreed to buy UK-based Spargo Consulting Plc for around $67.4m. Under terms of the deal, each share of Spargo Consulting would be exchanged for 0.15096 of a share of Computer Horizons common stock. The deal is expected to be accounted for through a pooling of interests and irrevocable undertakings to accept the offer have been received by owners of 75.01% of Spargo Consulting’s shares. Spargo offers a range of software application services to a largely blue chip client base in the UK, which includes Lloyds TSB Plc, Xerox Ltd, J.P. Morgan, J.H. Marsh & McLellan Ltd and Ladbroke Racing Ltd. John J. Cassese, president and chairman of Computer Horizons, said: The acquisition of Spargo Consulting will help Computer Horizons respond to the rapid growth in demand for our services in the UK, complementing our existing strength in the US market.
