Information Services Group Inc. (III): M&A transaction — ISG sells automation unit to UST for $27M, updates Q3 guidance

Information Services Group Inc.

Sold automation unit (Alsbridge) to UST Global Inc for $27M all-cash; $20M at closing, $7M in escrow.
CEO says sale sharpens ISG focus on core advisory, AI-driven Tango platform, and digital transformation.
Net proceeds from divestiture expected to reduce debt and return capital to shareholders.
Updated Q3 2024 guidance: revenue targeted at $60-61M; adjusted EBITDA guidance also provided.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.95

Information Services Group Inc. completed a disposition involving UST Global Inc for Purchase Price of $27 million in cash, with $20 million paid at closing and $7 million deposited into escrow, of which $4 million is to be released within 90 da (closed 2024-10-01).

Action: disposition
Counterparty: UST Global Inc
Consideration: Purchase Price of $27 million in cash, with $20 million paid at closing and $7 million deposited into escrow, of which $4 million is to be released within 90 da
Closing: 2024-10-01

Exact text from the filing

10.16 of the Share Purchase Agreement (Guarantee), the Company. Pursuant to the Share Purchase Agreement, Buyer acquired all of the outstanding common stock of Alsbridge for $27 million in an all-cash transaction (“Purchase Price”). The sale of Alsbridge to Buyer effected the divestiture of the Company’s automation unit (the “Divestiture”). Following the

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Information Services Group Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-105478

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