TechTeam Wins More Backing For Sale

The Southfield IT and business process outsourcing provider TechTeam Global Inc. (Nasdaq: TEAM) said Wednesday that the independent proxy advisory firm Glass Lewis & Co. had recommended that TechTeam shareholders vote for the proposed sale of its government services subsidiary, TechTeam Government Solutions Inc., to Jacobs Engineering Group Inc. for $59 million in cash.

Earlier this month, two other similar firms, ISS/RiskMetrics Group and Proxy Governance Inc. also  recommended that stockholders vote to approve the proposed stock sale, meaning that all three of the leading proxy advisory firms have now recommended that TechTeam Global’s stockholders vote to approve the proposed stock sale.

The special meeting of stockholders is to be held at The Langham Hotel, 250 Franklin St., Boston, Mass., on Tuesday, Aug. 31 at 10 a.m. Eastern time. Holders of record of TechTeam Global common stock as of the close of business on July 30 will be entitled to vote at the special meeting.

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