CONFIDENTIAL MEMORANDUM TO: All TechVision Solutions Employees FROM: Robert Anderson, Chief Executive Officer DATE: January 15, 2025 SUBJECT: Strategic Merger with InnovateSoft Corporation
I am writing to inform you of a significant development that will shape the future of our company. After months of careful deliberation and negotiations, TechVision Solutions and InnovateSoft Corporation have reached a definitive agreement to merge operations. This strategic merger will create one of the industry's leading technology service providers, with projected annual revenues exceeding $2.8 billion and a combined workforce of approximately 12,000 employees across 15 countries.
The rationale behind this merger is compelling. Both companies possess complementary strengths: TechVision's expertise in cloud infrastructure and cybersecurity solutions pairs exceptionally well with InnovateSoft's artificial intelligence and data analytics capabilities. By consolidating our resources and eliminating operational redundancies, we anticipate achieving cost synergies of approximately $150 million annually within the first three years of integration.
I want to address what I know is foremost in everyone's minds: job security. While some restructuring is inevitable in a merger of this magnitude, we are committed to minimizing workforce disruption. Our current projections indicate that over 95% of existing positions will be retained. Any necessary changes will be communicated directly to affected individuals at least 60 days in advance, and we will provide comprehensive severance packages and outplacement services to those impacted.
The integration process will unfold in three phases over the next 18 months. Phase One, beginning February 1, focuses on establishing a unified leadership structure. Phase Two, starting in May, involves harmonizing our operational systems and processes. Phase Three, scheduled for the fourth quarter, will complete the full integration of all business units and client accounts. Throughout each phase, designated integration coordinators will be available to address questions and concerns.
An all-hands meeting will be held on January 22 at 2:00 PM via video conference to provide additional details and answer questions. In the meantime, please direct any immediate concerns to your department manager or to mergerinfo@techvision.com. I am confident that this merger represents an extraordinary opportunity for growth, innovation, and enhanced career prospects for all of us.