Kelley Drye Represents Accurum in Acquisition by Kanbay
April 6, 2005
Kelley Drye represented IT services provider Accurum, Inc. in its acquisition by Kanbay International for approximately $5 million, plus contingent payments of up to $7 million based upon achievement of certain performance targets. Regarding the acquisition, Raymond Spencer, Kanbay's chairman and CEO stated, “Accurum brings a wealth of high-end domain expertise ... [the company] holds close relationships and a strong track record with some of the most important capital markets clients in the world.” Accurum, which has offices in the United States, United Kingdom and India, will be operated as a wholly-owned subsidiary of Kanbay.