Dimension Data`s training subsidiary, Dimension Data Learning Solutions, has acquired Denver-based Colorado Computer Training Institute (CCTI) for $11 million.
Headquartered in Denver and operating in 25 cities, CCTI delivers Cisco, Information Security and Project Management curricula.
Founded in 1991, it has grown at a compound annual growth rate of 25% over the past five years, with revenue of $11 million for the 12 months to December 2000.
Dimension Data Learning Solutions focuses on training and development in the Internet, data networking, software development and management arenas with operations in Asia, Australia, Europe, SA and now the US.
The acquisition, effective 1 June 2001, will be settled with a 60% up-front cash payment, with the balance to be settled in a combination of cash and shares over the next 16 months depending on performance.
Marilyn Chaplin, Dimension Data Learning Solutions MD, says the company acquired CCTI to grow its business globally and provide support to system integrators in the US, enabling the group to offer customers a complete solution.
"CCTI`s training focus on networking solutions including Cisco, security and project management complements Dimension Data Learning Solutions` existing operations in Europe, SA, Asia and Australia," she says. "CCTI`s wide footprint in the US and existing infrastructure establishes Dimension Data Learning Solutions as a true global player.
"According to the International Data Corporation (IDC), there was a shortage of some 660 000 networking professionals in 2000. This number is expected to grow threefold by 2004. IDC also estimates that in 2000, one of out every three networking job openings was not filled.
"In addition, IDC states that whether the US economy continues to slow or not, both it and the global economy will continue to suffer IT labour shortages," says Chaplin.
CCTI`s CEO, Jon Carmain, and CCTI`s top management have signed contracts of between 18 months and three years to remain with the Dimension Data group.
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