Feeds

CGI Group beds Logica in £1.7bn cash deal

Shares leap 64% at news of outsourcing nuptials

Remote control for virtualized desktops

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." ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
BT said to have pulled patent-infringing boxes from DSL network
Take your license demand and stick it in your ASSIA
Right to be forgotten should apply to Google.com too: EU
And hey - no need to tell the website you've de-listed. That'll make it easier ...
prev story

Whitepapers

Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
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.
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?
Website security in corporate America
Find out how you rank among other IT managers testing your website's vulnerabilities.