Perot Systems Corp. has agreed to pay at least $65 million in cash to acquire Technical Management Inc., the parent of Transaction Applications Group.[@@[
Perot, Plano, Texas, is a technology services firm that has been trying to sell business services to specific types of companies.
Technical Management, Lincoln, Neb., is best known for TAG, a company that sells technical services and back-office support services to life insurers, health insurers and annuity issuers.
Perot hopes to close on Technical Management within the next month, and the deal agreement calls for Perot to pay Technical Management’s owners an extra $18 million if TAG meets performance targets, Perot says.
TAG has about 850 employees and generates about $44 million in annual revenue.
Perot has about 4,700 employees and $350 million in annual revenue.