Brit firm splashes considerable cash on Anglo-Dutch rival...
Published: 5 November 2002 15:00 GMT
UK IT services firm Logica has bought Anglo-Dutch rival CMG for £510m.
The combined firm, which will be known as LogicaCMG, will be the third largest IT services company in Europe, making it a major player in the two companies' respective fields. Both firms specialised in providing payment system technologies as well as enabling wireless communications with software for sending SMS messages on mobile phones.
Logica will own 60 per cent of the combined firm and its CEO Martin Read will sit at the helm of the company. However, not all staff will keep their jobs. The merger will see around 1,400 staff, or six per cent of the combined workforce, shown the door.
It is expected that the deal, which should be completed by the end of the year, will save the combined company around £60m per year.
With 20+ global offices, a dedicated workforce and an expanding client base, our client is well positioned to deliver further growth across all ...
K YOU MUST HAVE/BE THE FOLLOWING - Sold to organisations with a mobile workforce, ERP/CRM background - Two years + stability in their most recent ...
The result of this dedicated attention to messaging services is that mBlox delivers comprehensive and reliable SMS transport and financial settlement ...
Agenda Setters 2009
Welcome to the ninth annual Agenda Setters poll – silicon.com's list of the top 50 most influential individuals in the technology and IT industries, from techies and CIOs to entrepreneurs and business leaders. Find out more in our latest special report.
Stories from the web...
Copyright © 2008 CBS Interactive Limited. All rights reserved. Top of page
Digg
Slashdot
Del.icio.us
Stumble
Reddit
RSS Feeds
Peter Cochrane Peter Cochrane's Blog: How the telcos could save themselves Doomed network operators could thrive with a bit of innovation
Peter Cochrane Peter Cochrane's Blog: Facebook saves teen from prison Another unexpected impact of social networking