French IT services company GFI Informatique SA has reported a first quarter net profit up 81.5% at 3.4m euros ($3.6m) on revenue that rose 42.7% to 77.6m euros ($82.7m). It has also announced the acquisition, for an undisclosed sum, of Sinorg, an IT service company specializing in the public administration market.
Paris-based Sinorg employs some 570 people around France and has expects to report a net profit of 2.13m euros ($2.3m) on revenue of around 45.7m euros ($49m) for 1998. In announcing the acquisition, GFI president and CEO Jacques Tordjmann said that Sinorg, together with ECS, will take GFI over its target of 305m euros ($325m) in revenue, but a year ahead of schedule. The figure had been set for 2000.
Last month it announced the acquisition of Excellence in Computing Solutions (ECS) Ltd, a UK company specializing in complex heterogeneous networks and the development of communications infrastructures, and is now present in six European countries besides France.
