Ciber

CEO: Michael Boustridge

Dec. 30, 2016: $0.63

March 31, 2017: $0.40

Change: -36.51%

Ciber, No. 43 on the CRN Solution Provider 500, struggled to turn its business around in 2016, even hiring a consulting firm in October to help it explore strategic alternatives. Through 2016 and in the first quarter of 2017 the company sold off some its business operations, including operations in Europe and its Infor service practice, as it faced a March 31 deadline to pay off a $28.2 million Wells Fargo loan.

On March 17 CFO Christian Metzger said the solution provider's future was uncertain if it was unable to repay the Wells Fargo loan.

On April 10, after the period covered in this analysis, Ciber filed for Chapter 11 bankruptcy protection and entered into a "stalking horse" agreement for Capgemini to purchase Ciber's North America and India businesses for $50 million. Ciber's stock fell to $0.25 per share, and the New York Stock Exchange suspended trading of Ciber shares and began proceedings to delist the stock.