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IMR acquires Australian services firm

Information Management Resources (IMR) has acquired RHO Transformational Technologies, a Sydney, Australia-based software services and engineering company. RHO, which reported $4 million in 1997 revenue, offers software application conversion and maintenance services to large global companies with Australian and Asia Pacific operations. The deal, which is expected to be accounted for as a pooling of interests, should close in about three weeks.

The deal is a strategic step for IMR; it gives them a tactically-positioned, English-speaking stepping stone into the Asian Pacific region, providing immediate access into a rocky yet burgeoning market. The acquisition also strengthens IMR's engineering and customer service capabilities.

IMR has been looking for the right opportunity to enter this market, according to company president and CEO Satish Sanan. RHO, with its 50-odd professionals and background in platform conversions and transformations, will complement IMR's young Sydney office. "With IMR's business and service model, the combined companies will offer our customers and prospects a truly unique approach to deal with their information technology challenges," he said.

RHO president and CEO Neil Docherty says that the deal gives RHO access to IMR's human resources offerings, and more importantly, its wallet. "[The deal] will enable us to expand our service offerings and penetrate additional markets," he said. "This is exactly the alliance we have been looking for to advance our business."

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