Gores Technology Group, LLC Acquires Proxicom, Inc. from Dimensions Data Holdings, PLC
March 11, 2004
New York, NY, March 11, 2004 - Gores Technology Group, LLC ("Gores"), a leading privately held investment firm, announced today that, through an affiliate, it has acquired Proxicom, Inc. ("Proxicom"), a web design and Internet consulting company, from an affiliate of Dimension Data Holdings, Plc ("Dimension Data"). The price was not disclosed.
The Proxicom product suite enables large organizations to regain their agility by connecting decision makers to the information needed to make sound decisions. Their service offerings include Application Development incorporating Technical Architecture and User-Experience Architecture; Project Management; and Application Management. Proxicom's primary focus is helping clients to unlock information and value from existing data assets.
"We are pleased to add Proxicom to the Gores portfolio of companies. Proxicom offers Gores a tremendous opportunity to advance our strategic initiatives in the IT services sector," said James R. Bailey, President of Operations at Gores. "We are extremely pleased with the talent of the Proxicom team and we are very excited to have the opportunity to work with the Proxicom customer base. Proxicom enjoys strong relationships with blue-chip companies throughout North America and we look forward to continuing Proxicom's mission of supplying top-notch IT services to both its current customers and to its future customers."
About Proxicom, Inc.
Based in Reston, VA and New York, NY, Proxicom was founded in the early 1990s as an e-commerce systems, services and IT integration firm. The rapid growth of e-commerce reinforced the Company's stance as an early enabler of e-business technologies, allowing Proxicom to leapfrog larger, more established competitors to become a leader in the development of business systems for the Internet.
About Gores Technology Group, LLC
Gores Technology Group, LLC ("Gores") is a private investment firm focused on the technology and telecommunications sectors. Since 1987, Gores has amassed an enviable track record of successful investments within these sectors. The firm combines the seasoned M & A team of a traditional financial buyer with the operational expertise and detailed due diligence capabilities of a strategic buyer. Gores has a long standing record of creating sustainable value in its portfolio companies by focusing on customers and employees, supporting management with operational expertise and providing the capital required for growth. Headquartered in Los Angeles, California, Gores maintains offices in Boulder, Colorado; New York, New York; London, United Kingdom; and Zürich, Switzerland. (www.gores.com)