Tuesday, May 15, 2007
Data Return Shopped to Terremark for $85M
Terremark Worldwide Inc. has agreed to acquire IT consulting firm Data Return from investment specialist Saratoga Partners for $85 million, Saratoga reported Monday. The sale is expected to close by late June. Saratoga originally purchased Data Return in June 2003 from Divine Inc. for $28 million. Lane, Berry & Co. International LLC served as financial advisor to Data Return. Based in New York, Saratoga Partners was founded in 1984 and has been an independent firm since 1998. Data Return is headquartered in Irving, Texas, and boasts more than 250 customers, including H&R Block, Hewlett-Packard and BMW North America.