Parity Group Plc, the London, UK-based IT services company, is paying a total of 15.7m pounds ($25.4m) to acquire a web services company and an IT training company. The total consideration is to be a mixture of cash, debt and stock.
It is paying 8.8m pounds ($14.2m) for Interactive Development Ltd, a web architect whose clients include Chase Manhattan, Dixons and Tesco. Interactive, which has over 50 staff, has forecast revenue of 1.9m pounds ($3m) in the year to December 31.
Parity is also extending its training activities with the 6.8m-pound ($11m) purchase of Comtec Computer Training Ltd, a specialist in Windows 2000 and Lotus Domino 5.0. Comtec has 120 staff and revenue of about 7.5m pounds ($12.1m).
Parity, which parted company with its CEO in September (CI No 3,741), has a five-year plan to become an international e-commerce consultancy.
