TPI Revenues Up as Staff Commit to ISG Stock

Outsourcing advisory firm TPI has posted a 13% rise in Q1 revenue to $43m, since announcing its forthcoming $280m acquisition by Information Services Group (ISG), the vehicle created by former VNU boss Michael Connors.

At the time of the announcement ISG stated that TPI's management team would be investing 30% of the proceeds in ISG stock (www.mrweb.com/drno/news6715.htm ). It has now been confirmed that more than 100 TPI staff – including the firm's founder – will be investing approximately $25 million at the close of the deal. ISG intends to repurchase up to $40m of its common stock after closing.

Michael Connors, Chairman and CEO of ISG said that this investment represents a strong endorsement of the growth prospects and strategy of TPI and ISG.

ISG has now filed a preliminary proxy statement with the Securities and Exchange Commission: 'The proxy will offer our stockholders detailed information about the transaction and TPI's business. We look forward to establishing a strong platform to build a world class information services company', says Connors.

Founded in 1989, TPI supplies data, research, and intelligence to help clients evaluate their outsourcing strategies including the balance of insourcing, offshoring and shared services. The Houston-based firm employs 430 staff globally and is online at www.tpi.net . Connecticut-based acquisition company ISG was founded in 2006 by a team which includes several former Nielsen / VNU executives, including Connors who outlined the firm's acquisition strategy in a DRNO Earpiece in February (www.mrweb.com/drno/news6558.htm ). The firm is on the web at www.informationsg.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.