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Computer Task Group, Incorporated - CTG STOCK NEWS

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Computer Task Group, Incorporated (CTG), listed under the symbol CTG on Nasdaq, is a prominent provider of IT services, solutions, and staffing. For over 50 years, CTG has built a reputation for reliability and results, serving diverse industries such as healthcare, finance, government, technology, and telecom. Our offerings encompass the entire IT business solution lifecycle, including planning, developing, implementing, managing, and maintaining IT solutions.

CTG excels in helping clients assess their business needs and identify the appropriate IT solutions. Our services include the selection and implementation of packaged software, as well as the design, construction, testing, and integration of new systems. Additionally, we offer comprehensive IT staffing services—from recruiting and retaining IT talent to managing staff for both large organizations and smaller firms with specific IT needs.

Currently, CTG is actively engaged in digital transformation projects across North America, South America, Western Europe, and India. Our commitment to digital transformation has driven significant improvements in data-driven decision-making, business performance, and customer experiences.

Recent achievements for CTG include notable financial performance, with revenue of $325 million in 2022 and $306 million in trailing 12-month revenue as of June 30, 2023. We are also proud to announce a strategic acquisition by Cegeka, a leading European IT solutions provider. This merger promises to enhance our service portfolio and capabilities, aligning with Cegeka’s vision to become a global IT integrator.

CTG's second quarter 2023 financial results will be released on August 9, 2023, with a conference call and webcast to follow. Furthermore, CTG's recent performance highlights include improved gross margins and a stronger digital solutions mix, demonstrating our successful execution of our transformation strategy.

Latest News:

  • On August 2, 2023, CTG announced the release of its second quarter 2023 results.
  • On August 9, 2023, Cegeka agreed to acquire CTG for $10.50 per share, a deal valued at approximately $170 million.
  • CTG reported its third quarter 2023 financial results on November 8, 2023, showing a robust improvement in gross margins despite challenging market conditions.
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Cegeka Groep NV (CEGEKA) successfully completes tender offer to purchase Computer Task Group, Incorporated (CTG) at $10.50 per share, creating a global IT player with operations in 19 countries and over 9,000 IT professionals.
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CTG (Nasdaq: CTG) reported its financial results for the third quarter, with a focus on the acquisition by Cegeka. Revenue of $71.3 million reflects a disengagement of $11.8 million from non-strategic technology services. Gross margin improved to 27.3%, and GAAP operating margin was (0.8)%. The acquisition is expected to close on December 13, 2023.
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Cegeka Groep NV and Computer Task Group, Incorporated have extended the expiration date of their acquisition offer. The offer to acquire all outstanding shares of CTG for $10.50 per share has been extended until December 12, 2023. As of November 2, 2023, approximately 56.9021% of the outstanding shares have been tendered into the offer.
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Cegeka and CTG extend the expiration date of their merger offer
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Cegeka and CTG extend expiration date of acquisition offer for CTG shares.
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CTG named to UK's Best Workplaces in Tech list
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Cegeka to acquire CTG for $10.50 per share in cash, valued at $170 million. Expected to bring Cegeka to €1.4 billion annual turnover in 2024, employing over 9,000 people in 18 countries. CTG had $325 million in 2022 revenue and $306 million in trailing 12-month revenue as of June 30, 2023. Cegeka's long-term strategic vision for growth. Transaction expected to close later in 2023.
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CTG (Nasdaq: CTG) to Release Second Quarter 2023 Results on August 9, 2023, and Host Conference Call and Webcast to Discuss Financial and Operating Results, Strategy, and Outlook
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FAQ

What is the market cap of Computer Task Group, Incorporated (CTG)?

The market cap of Computer Task Group, Incorporated (CTG) is approximately 169.0M.

What does Computer Task Group, Incorporated (CTG) do?

CTG provides IT services, solutions, and staffing for industries like healthcare, finance, government, tech, and telecom, covering the entire IT business solution lifecycle.

What industries does CTG serve?

CTG serves various industries including healthcare, diversified industrials, finance, government, technology, and telecom.

What are CTG's core services?

CTG's core services include IT business solution lifecycle phases: planning, developing, implementing, managing, maintaining IT solutions, and IT staffing.

What recent achievements has CTG made?

Recent achievements include a significant acquisition by Cegeka for $10.50 per share, robust financial performance, and improved gross margins.

What is the significance of CTG's acquisition by Cegeka?

The acquisition by Cegeka aligns with a long-term strategic vision, enhancing CTG's service capabilities and positioning Cegeka as a global IT integrator.

Where does CTG operate?

CTG operates in North America, South America, Western Europe, and India.

How does CTG contribute to digital transformation?

CTG accelerates clients' project momentum by integrating digital technology across operations, improving data-driven decision-making, business performance, and customer experiences.

What is CTG's financial outlook?

CTG reported $325 million in revenue for 2022 and $306 million in trailing 12-month revenue as of June 30, 2023, with a continued focus on profitable growth.

How can shareholders stay updated on CTG's news?

Shareholders can stay updated by visiting CTG's website at www.ctg.com or checking news releases and financial reports on the SEC's website.

What are the details of the recent merger agreement with Cegeka?

The merger agreement states that Cegeka will acquire CTG for $10.50 per share, with the transaction expected to close later in 2023, making CTG a privately held company.

Computer Task Group, Incorporated

Nasdaq:CTG

CTG Rankings

CTG Stock Data

168.99M
14.68M
8.81%
56.47%
0.19%
Information Technology Services
Technology
Link
United States
Amherst