User Technology Services, Inc., (Usertech), of Norwalk, Connecticut has been acquired by Ceridian Corporation of Minneapolis.
Ceridian, a nine hundred million dollar New York Stock Exchange Company, is an information services and defense electronics company.
Bicknell Advisory Services, Inc. acted as financial advisor to the seller.
Established in 1979, Usertech assists Fortune 500 companies in implementing new information systems.
The Company specializes in the development customized computer-based training.
Seeing the opportunity to greatly expand its participation in worker productivity and reengineering initiatives, Usertech decided to seek a strategic alliance.
Bicknell Advisory Services was engaged to find a strategic partner who shares Usertech's dedication to quality service and has resources and client relationships which will help the Company grow more rapidly.
The marketing program designed by Bicknell Advisory highlighted to a select group of potential buyers the professionalism of Usertech's staff, the Company's outstanding record of growth and profitability and the significant market opportunities available to Usertech.
The combination with Ceridian will enable Usertech to more rapidly expand its branch system into additional markets and to develop related services for Ceridian's Employer Services division.