View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 1, 1998

4FRONT BUYS FRENCH SERVICE UNIT FROM SIEMENS

By CBR Staff Writer

4Front Technologies Inc, the London-based computer services outfit, has agreed to purchase I-NEA SA, the French on-site service and maintenance unit of Siemens AG. Under terms of the agreement, 4Front will hand over $4.1m for the unit, which has 200 employees in 10 locations throughout France. In what seems like a bargain for 4Front, the company estimates that I-NEA will contribute at least $40m in revenues in the first 12 months after the closing of the deal – expected in January – and will be accretive to earnings in calendar 1999. As part of the acquisition, Siemens and 4Front will also enter into a regional agreement in which the two say they will work together to maintain the existing client-base, as well as develop new services and attract new clients. 4Front says the deal comes in line with its goal of becoming a premiere pan-European computer services provider and now gives it a total of 375 employees in France.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU