Savvis, a global leader in cloud infrastructure and hosted IT solutions for enterprises, and Ciber, a global information technology consulting and managed services company, have entered into an agreement under which Savvis will purchase certain assets of Ciber's global IT Outsourcing business for US$7 million in cash at the time of closing, plus additional future consideration in the form of a cash earn-out payment based on results through December 2013.

The assets include client and vendor relationships, infrastructure, technology and facilities spanning several countries. In addition, Savvis expects to hire the approximately 750 people who currently support Ciber's global ITO business.

Source: 4 Traders