Feeds

CGI Group beds Logica in £1.7bn cash deal

Shares leap 64% at news of outsourcing nuptials

Beginner's guide to SSL certificates

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." ®

Beginner's guide to SSL certificates

More from The Register

next story
MI6 oversight report on Lee Rigby murder: US web giants offer 'safe haven for TERRORISM'
PM urged to 'prioritise issue' after Facebook hindsight find
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
NSA mass spying reform KILLED by US Senators
Democrats needed just TWO more votes to keep alive bill reining in some surveillance
'Internet Freedom Panel' to keep web overlord ICANN out of Russian hands – new proposal
Come back with our internet! cries Republican drawing up bill
What a Mesa: Apple vows to re-use titsup GT sapphire glass plant
Commits to American manufacturing ... of secret tech
prev story

Whitepapers

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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
10 threats to successful enterprise endpoint backup
10 threats to a successful backup including issues with BYOD, slow backups and ineffective security.
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?