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Technology / AI and automation

LOGICA SPENDS 62.6M POUNDS FOR TWO ACQUISITIONS

Logica Plc, the London-based IT consultancy, says orders, revenues and profits are significantly ahead of last year and continued its acquisitive business plan by spending 62.6m pounds on two telecommunications acquisitions. It is paying 47m pounds for Aethos Communications Systems, which offers pre-paid calling systems for mobile operators. Bristol, UK-based Aethos, which has offices in Dallas Texas and Malaysia, expects to make operating profits of 2m pounds in the financial year to March 31, 1999 on revenues expected to double to 23m pounds. Logica is also building up its position as a telecommunications consultancy with the purchase of Netherlands-based DDV group, which expects to make pre-tax profits of the equivalent of 300,000 pounds on revenues of 12.5m pounds this year. DDV, which employs 120 people in four countries, will be the core of Logica’s telecommunications consultancy activities in Europe. Logica’s shares rose 3% to 527 pence after the company told analysts that trading continued to be strong in the first five months of this year.

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CBR Staff Writer

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