Internet investment and management company CMGI has signed a definitive agreement to acquire Tallan in a deal worth $920 million.
CMGI manages or has a stake in more than 60 Internet companies, and Tallan is a custom software development company with eight locations across the U.S.
CMGI plans to integrate Tallan into CMGI Solutions, CMGI's recently launched e-business software company, according to a statement from CMGI. Tallan's offerings include e-commerce software, including data warehousing, data mining and online transaction processing systems, according to CMGI.
Jack Hughes, Tallan's CEO, will become chief operating officer of CMGI Solutions and will report directly to Ronald Spears, CMGI Solutions' president and CEO, the statement said. In addition, Hughes will join CMGI Solutions' Board of Directors.
The transaction, which is still subject to regulatory and closing conditions, is expected to be completed in May, the company said.
CMGI, in Andover, Mass., is at 978-684-3600, or at www.cmgi.com.
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