Computer Task Group

Last updated
Computer Task Group, Incorporated
Type Public
Nasdaq:  CTG
Russell Microcap Index component
Industry
Founded1966;58 years ago (1966)
Headquarters Buffalo, New York, United States
Key people
RevenueIncrease2.svg US$ 394.2 million [2]  (2019)
Increase2.svg US$ 6.9 million [2]  (2019)
Increase2.svg US$ 4.1 million [2]  (2019)
Total assets Increase2.svg US$ 158.7 million [2]  (2019)
Total equity Increase2.svg US$ 66.2 million [2]  (2019)
Owner
  • Independent (1966–2023)
  • Cegeka (2023–present)
Number of employees
3,950 [2]  (2019)
Website www.ctg.com

Computer Task Group, Inc (commonly referred to as CTG) is an American multinational company headquartered in Buffalo, New York, that provides information technology staffing. December 2023, it was announced that Cegeka concluded the purchase of the majority stake (74%) in CTG. [3]

Contents

History

Initially known as Marks-Baer Inc. (MBTI), the company was founded in 1966 by Randolph A. Marks and G. David Baer, two former employees of IBM, in Buffalo, New York. [4] MBI's initial market was the medical industry, since both founders had experience in that area.

A year after its staff grew to 20 employees and its name was changed to Computer Task Group Inc. (CTG), the firm went public in 1969. Six years later, it decided to become a national company. [5] CTG accelerated growth through acquisitions beginning in 1980 and within 5 years, acquired 15 companies.

In 1986, it made its first international acquisition, Shubrook International, Ltd., a software consulting firm based in Chertsey, England. [6] In 2018, five years after purchasing etrinity N.V., a healthcare IT company in Belgium, [7] CTG acquired Soft Company, a consulting and digital services company headquartered in Paris, France. [8]

In August 2023, it was announced CTG had been acquired by the Hasselt-headquartered IT services and consultancy company, Cegeka for $107 million. [9] In December, it was announced that the acquisition had been completed.

Acquisitions

  • Diversified Systems Inc. (1983) [10]
  • Automated Business Systems, Inc. (1983) [11]
  • Berger, Vernay & Co. (1985) [12]
  • Delta Force Inc. (1985) [13]
  • Documentation Resources, Inc. (1986) [14]
  • Shubrooks International, Ltd. (1986) [6]
  • Applied Management Systems, Inc. (1988) [15]
  • Connolly Data Systems Inc. (1990) [16]
  • Telecommunications Management Consultants (1990) [16]
  • Rendeck International N.V. (1990) [16]
  • Elumen Solutions Inc. (1999) [17]
  • etrinity N.V. (2013) [7]
  • Soft Company (2018) [8]
  • Tech-IT (2019) [18]

Divestitures

Services

CTG develops IT for companies in several industries including healthcare and technology services, and provides managed services IT staffing for technology companies and large corporations. The company concentrates on the financial services, telecommunications, government, industry, life sciences, and healthcare sectors. The scope of offered services includes development and integration, application management, information security, system and process assessment, and IT consulting.[ citation needed ]

CTG Belgium created a software testing methodology called FASTBoX (Framework for Automated Software Testing Based On eXperience).

Operations

CTG operates in North America (US and Canada), Western Europe (Belgium, Luxembourg, United Kingdom and France), and India. [2] It counts about 451 clients; its largest clients are IBM and SDI International. As of December 2019, the company employs approximately 3,950 people worldwide, with 2,650 in the United States and Canada and 1,300 in Europe.

In 2018, the company operated 9 subsidiaries:

  • Computer Task Group of Canada, Inc.
  • Computer Task Group Belgium N.V.
  • CTG ITS S.A.
  • Computer Task Group IT Solutions, S.A.
  • Computer Task Group Luxembourg PSF
  • Computer Task Group (U.K.) Ltd.
  • CTG Health Solutions N.V.
  • Soft Company SAS (“Soft Company”)
  • Computer Task Information Technology Services Private Limited

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References

  1. ↑ "CTG Profile Computer Task Group, Incorporat Stock". finance.yahoo.com. Yahoo! Finance. Retrieved 12 April 2016.
  2. 1 2 3 4 5 6 7 "2019 Annual Report". CTG. Retrieved December 23, 2020.
  3. ↑ "Dutch IT firm wraps up its acquisition of Computer Task Group". The Buffalo News. Retrieved 2023-12-21.
  4. ↑ Kepos, Paula (1995). "CTG, Inc.". International Directory of Company Histories. Vol. 11. Detroit: St. James Press. pp. 64–66.
  5. ↑ Gilbert, Nathaniel (November 1, 1989). "The Company that Acquisition Built". Management Review. Vol. 78, no. 11. p. 19.
  6. 1 2 "Mergers and Acquisitions". Computerworld. Vol. 20, no. 35. September 1, 1986. p. 94.
  7. 1 2 Bertola, David (February 1, 2013). "CTG Buy European Health IT Company". Buffalo Business First.
  8. 1 2 "Buffalo-based CTG buys SOFT Company of Paris". Buffalo Business First. February 15, 2018.
  9. ↑ "Cegeka to acquire CTG for $107m to boost North America and Europe offering". www.channelweb.co.uk. 2023-08-14. Retrieved 2023-08-14.
  10. ↑ "Briefs". Section D. The New York Times. March 25, 1983. p. 3.
  11. ↑ "Mergers & Acquisitions". Computerworld. Vol. 17, no. 33. August 15, 1983. p. 94.
  12. ↑ "Mergers and Acquisitions". Computerworld. Vol. 19, no. 16. April 22, 1985. p. 101.
  13. ↑ "Briefs". Section D. The New York Times. September 25, 1985. p. 5.
  14. ↑ "Mergers and Acquisitions". Computerworld. Vol. 20, no. 5. February 3, 1986. p. 100.
  15. ↑ "Mergers & Acquisitions". Computerworld. Vol. 22, no. 42. October 17, 1988. p. 117.
  16. 1 2 3 Semich, J. William (June 15, 1992). "Computer Task Group Inc". Datamation. Vol. 38, no. 13. p. 149.
  17. ↑ "Computer Consultant Moving into Health Care Data". Section C. The New York Times. February 2, 1999. p. 4.
  18. ↑ Trumbull, Ty (January 3, 2019). "CTG Acquires Solutions Provider Tech-IT for $10.3 Million". ChannelE2E. Retrieved November 2, 2019.
  19. ↑ Searles, Jack (June 21, 1994). "Honeywell in $17-Million Deal for Profimatics". Business. Los Angeles Times. p. 9.

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