Feeds

LogicaCMG buys its way into top ten

Buys WM Data

Protecting users from Firesheep and other Sidejacking attacks with SSL

LogicaCMG is paying £882m for WM Data - a pan-Scandanavian services company.

The price is about 25 per cent higher than shares have been trading at for the last three months. The takeover bid is unaminously backed by the WM Data board of directors. The deal will make the new firm the seventh largest IT services company by revenue in Europe.

The new company will have 40,000 employees in 41 countries and would have brought in revenues of £3bn for the year ended 31 December 2005. This would make the combined company a global top 20 IT services company by revenue and second largest listed IT services firm in Europe.

A spokeswoman for the company said the deal was about growth not cost savings. The deal will support Logica's strong position in France, the Netherlands, and the UK. There is little overlap. If the deal goes through the combined firm should enjoy cost savings of £15m - a spokeswoman said little of this would come from job cuts.

Dr Martin Read, LogicaCMG's chairman, said: "Increasingly, our customers want to do business with a smaller number of larger suppliers who can provide them with a broader range of offerings and support them internationally."

WM Data has about 9,000 employees in Denmark, Finland, Norway, Sweden, Poland and Estonia. WM Data uses Estonia and Poland for offshoring, or nearshoring, but now the firm will have access to LogicaCMG's Indian and central European offshore centres.

WM Data brought in revenues of £681.8m for the year ended 31 December 2005 and a profit of £29.5m.

There's a press release available here - but only if you live in the right country. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.