Phoenix IT ready to get hands dirty with ICM
Stops talking, starts doing
Phoenix IT yesterday said it was time to stop talking about integrating ICM Computer Group and time to start doing it. The board cautioned the "integration may cause some short term disruption", but the logic of the acquisition remains, well, strategic.
Considering that Phoenix only bought ICM, a disaster recovery biz-cum-computer dealer, in June and shelled out nearly £108m - about 1.5 times revenues - for the honour, it is nice to know that the company hasn't had a change of heart.
Yesterday Phoenix also reported it had nothing new to report on the trading front. Before entering its closed period, the company said that trading was in line with expectations for the six months ended 30 September. ®