Capita bags Quartermaine to run IT Services
Gulps down SAP management firm Smith's Consulting for £10m
Former Azzurri Communications chief exec Mark Quartermaine is set to take the reins at Capita IT services (ITS).
Quartermaine, who resigned from the managed comms provider just before Christmas after nearly one-and-a-half years in the role, today confirmed he is set to rock up at Capita.
"I am joining Capita at an exciting time. We are working closely with our customers who are feeling the squeeze, but still wanting – and needing - to invest in ICT to help them deliver a better service at lower cost," he said.
Capita is also feeling the squeeze, specifically from a reduction in large scale projects, and ITS is certainly not immune to this pressure.
The Reg revealed in December that ITS is pushing through cost-cutting measures to maintain profits.
It was seeking 99 staff to volunteer for redundancy across applications management; distributed infrastructure services; integrated solutions; procurement and logistics; service management; and tools and automation.
Quartermaine joined Azzurri in September 2010, but judging his impact on the top and bottom line is not yet possible as the last filed results for the integrator relate to the 12 months to 30 June 2010.
In that year sales dipped 5 per cent compared to fiscal 2009 to £141m but retained profits went up 39 per cent to £8.9m. Fiscal 2011 numbers are due to be filed in seven weeks.
Quartermaine's departure from Azzurri coincided with the completion of planned corporate refinancing, reducing the cash interest burden and balance sheet liabilities with a fresh facility that runs until June 2014.
Former Datapoint CEO Vim Vithaldas succeeded Quartermaine as the new chief exec.
In other Capita-related developments, the firm yesterday acquired SAP management firm Smith's Consulting for £10m in a deal that could rise by another £2m depending on profit performance. ®