Infocrossing Completes Stock Sale

• By theWHIR.com , April 01, 2004

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April 1, 2004 -- (WEB HOST INDUSTRY REVIEW) -- Infocrossing (infocrossing.com), a provider of IT and business process outsourcing services, announced today that it has completed its previously announced $30.6 million private placement of 2,917,000 shares of its common stock.

The New Jersey-based company said it plans to use the proceeds to finance a portion of the $36.5 million it has agreed to pay for all of the outstanding stock of data center outsourcing provider Systems Management Specialists (SMS) (smsoutsourcing.com).

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