News

 

 

July 2, 2007

NEW YORK – July 2, 2007, Chamrock Computer Network, Inc. (CCN), a full service provider of IT services and talent management solutions, announced today a deal to sell its ITIL training and education business to Third Sky, a full service provider of IT Service Management solutions, for an undisclosed amount.

ITIL® (Information Technology Infrastructure Library) is a framework of the globally accepted IT sector practices for IT service management.

Lou Hunnebeck, CCN’s ITIL® expert who managed the company’s training and education team, will shift the team to Third Sky as part of the asset-based deal.

CCN, founded in 1989, will focus on its core business of IT workforce and talent management solutions, which represents approximately 80 percent of the firm’s business.  CCN is privately held, and was started by CEO and award-winning entrepreneur, Clarice Kennedy.

“Talent management within the IT sector remains a strong growth market for CCN,” said Kennedy, who’s clients include J.P. Morgan Chase & Co., Viacom and Pfizer.  “We invested in ITIL® nearly five years ago, and it continues to evolve rapidly.  I am confident that what CCN has built will prove to be a solid complement to Third Sky’s existing consulting business.”

“I believe our clients will greatly benefit from the expanded ITIL® capabilities this deal brings to Third Sky,” said Josh Barrow, CEO.  “We are very pleased to be adding such talent and experience to our company.”

CCN has been honored as the 2005 JPMorgan Chase Supplier of the Year; is the recipient of Crain’s Magazine’s New York Small Business Award; and was named as one of Inc. Magazine’s Fastest Growing Companies.

Kennedy was recently recognized by the National Association Women Business Owners (NAWBO) Signature Award, and with NAWBO Long Island’s National Entrepreneur of the Year Award.  Kennedy was also named a finalist for Ernst & Young's Entrepreneur of the Year Award in Information Technology. 

Innovation Advisors, a technology focused, New York-based investment bank, advised CCN on the transaction.

Contacts:

Alicia Young
Ruder Finn
212-593-6343
younga@ruderfinn.com

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