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Divine to acquire assets of MarchFirst

Published on .

Chicago-Former incubator Divine Inc., which is now a software company, said it has agreed to acquire most of the assets of troubled Internet consultancy MarchFirst Inc. in a $70 million deal. Divine said it would take 2,100 of MarchFirst's 7,000 employees and acquire up to 19 of its offices, as well as purchase MarchFirst's $40 million software consultancy based in Denver and its Web hosting company HostOne. Over the past few weeks, MarchFirst said it planned to lay off about 2,000 employees and its stock was halted from trading on Nasdaq last week after it fell to 16 cents a share. The deal was announced in a conference call Friday.
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