Thomas H. Lee Partners said Monday it is buying privately held IT outsourcing company CompuCom Systems Inc for around $1.1 billion, a person close to the matter said. Dallas, Texas based CompuCom had been owned by Court Square Capital Partners, a private equity firm that was spun out of Citigroup Inc in 2006.Financial terms of the transaction were not disclosed.CompuCom touts Fortune 100 and 500 businesses as among its clients, and had reported gross revenue of $2.3 billion in 2012.Citigroup Global Markets Inc, JP Morgan, BMO Capital Markets and Jefferies Finance LLC are providing committed financing for the transaction.
Citigroup Inc. is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services. Shares of C traded higher by 1.28% or $0.55/share to $43.56. In the past year, the shares have traded as low as $24.61 and as high as $47.92. On average, 33017700 shares of C exchange hands on a given day and today's volume is recorded at 21678574.
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