By Mike Boyer
The Cincinnati Enquirer

Pomeroy IT Solutions, a Hebron computer sales and service provider, Tuesday announced its biggest acquisition, agreeing to acquire a suburban Chicago information-technology services provider for $44 million.

Pomeroy said it would pay shareholders of Alternative Resources Corp. of Barrington, Ill., 70 cents in cash for each of their shares including warrants and options. In addition, the purchase includes the retirement of Alternative Resource's $26.8 million in debt, said CEO Steve Pomeroy.

The acquisition would nearly double Pomeroy's computer-services business and move it closer to its goal of $1 billion in annual revenues, he said. ARC shareholders must approve the sale.

Pomeroy announced the acquisition after the market closed. Pomeroy's shares closed at $13.49, off 29 cents.

Last year, ARC reported a net loss of $13 million, or 76 cents a share, on revenues of $138 million. Last year, Pomeroy reported net income of $9 million, or 73 cents a share, on revenues of $598 million.

ARC, which also operates an employee staffing business, has 2,000 employees, and would increase Pomeroy's employment to more than 3,100.

For the three months ended April 5, Pomeroy said Tuesday, its net income increased to $2.3 million, or 18 cents, a share, from $1.5 million, or 12 cents a share, in the same period last year.

First-quarter revenues rose 19 percent to $155 million from $130 million a year ago.

E-mail mboyer@enquirer.com