“Accretive Commerce shares GSI's passion for growth, innovation and service excellence,” said Hank Reeves, CEO of Accretive Commerce. “Accretive Commerce has great momentum providing a valuable solution to a growing market. I am confident and excited that Accretive Commerce's existing clients will benefit from GSI's focus on their partners' growth, brand and customer experience.”
On a trailing 12-month basis through June 30, 2007, Accretive Commerce recorded net revenue of $83.6 million, income from operations of $4.9 million and adjusted EBITDA of $6.5 million.
GSI expects to incur integration-related operating expenses of approximately $10 million to $12 million and capital expenditures of $10 million to $15 million, in the aggregate, beginning in the late third quarter of fiscal 2007 through the end of fiscal 2008, primarily related to systems migration activities.
“By acquiring Accretive Commerce we believe we will be better positioned to capture a greater share of our growing market opportunity,” said Rubin. “This acquisition works from strategic, financial and operational perspectives.”
marketing@alchempro.com
