Acquisition information
The acquisitions of Unilog and WM-data have significantly strengthened our European presence and extended our range of offerings in areas such as healthcare and retail. Today, Logica employs 39,000 people across 36 countries. By revenue, we are a global top twenty IT services company and the seventh largest in Europe. We now have the strength and scale to compete effectively for any major contract in Europe.
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In August 2006, we announced our intention to acquire WM-data, the third largest IT services company in the Nordics. We completed the acquisition in October and are already pursuing a number of exciting cross-selling opportunities across the two businesses. In particular, we see considerable potential for introducing Logica’s global service delivery model (GSD) to Nordic customers seeking to outsource IT and business processes. At the time of the WM-data transaction, Logica acquired 95.33% of the company's issued share capital. On 23 February 2009, Logica announced the commencement of payment related to the WM-data redemption process. The Arbitral Tribunal set the amount to be paid for each share and convertible bond at SEK 26.70 plus statutory interest (2% plus the Swedish Central Bank's reference rate). The total redemption price plus interest (accrued from 25 October 2006) amounted to £48.4 million (SEK 602 million). The total consideration of £48.4 million was paid to minority shareholders in a series of payments which complete in March 2009. |
| In January 2006, we completed the acquisition of Unilog to become the fourth largest IT services provider in France and a top ten provider in Germany. By the year-end, we had made excellent progress with integrating this business into the group, with over €100 million (£67.6 million) in cross-selling orders recorded by the former Unilog businesses over the year. These cross-selling orders typically draw on Logica’s specific industry capabilities, international network and offshore resources and Unilog’s strong local client relationships. They are orders that neither company would have been likely to have won independently. In Germany, following a comprehensive restructuring programme, we achieved a profit in the combined business in the second half of 2006. |
Find out more about the Unilog acquisition..
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