Feeds

CGI Group beds Logica in £1.7bn cash deal

Shares leap 64% at news of outsourcing nuptials

Intelligent flash storage arrays

Anglo-Dutch tech group Logica is being scooped up by Canada's CGI Group in a £1.7bn cash deal.

The acquisition, expected to complete in September this year, was agreed by the European wing of IT outsourcing company CGI.

Shares in Reading-headquartered Logica rocketed more than 60 per cent following the news, with an opening price of 108 pence on London's Stock Exchange this morning.

According to its website, CGI provides IT and biz-process services to around 125 partners, and was founded in 1976.

Logica said its shareholders would be entitled to receive 105 pence in cash per share. “Over the past few years Logica has successfully integrated its European businesses into a single organisation with a clear brand and position in its main markets," said Logica chairman David Tyler.

"Significant investments have been made in sales and marketing. It has established a strong presence in outsourcing which now represents 45 per cent of the business.

"Logica has also cut overhead and staff costs substantially and offshore numbers have more than doubled, improving its cost competitiveness." ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.