Dallas-based Shea Development Corp. to acquire WOW Global Corporation

by PegNews wire

DALLAS — Shea Development Corp., the Dallas-based leader in the business process management industry, today announced the signing of a definitive agreement to acquire WOW Global Corporation, LLC in a cash and stock transaction. WOW provides custom software solutions, business process outsourcing, and consulting services to Fortune 500 companies. The company hopes the addition of WOW will further enhance Shea’s service offerings in the BPM market, extend the company’s global footprint, and expand its enterprise customer base.

“We continue to execute our consolidation strategy to drive long term growth, and improve our ability to deliver competitive BPM solutions to our customers,” said Frank Wilde, Chairman and Chief Executive Officer of Shea. “WOW brings a global footprint with onshore and offshore programming capabilities, extensive consulting and services offerings, and a proven management team with deep technical expertise. In addition, we believe the combined customer base will elevate our global presence and enable us to leverage a broader set of services and solutions across all geographies.”

Subhash Chander, President of WOW said, “We are excited to be a part of this emerging enterprise. We believe the combined company enables us to expand our mission critical consulting services and elevate our position in the BPM market. We continue to be focused on our customers’ needs and remain at the forefront of the IT evolution.”

The transaction is subject to various customary closing conditions and is expected to close in the fourth calendar quarter of 2007.

Source: Shea Development Corp.