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November 22, 1998


By CBR Staff Writer

Unicomp Inc has signed a letter of intent to sell its Belfast- based IT support services subsidiary, Aurora Unicomp, to Veridian Group Plc’s subsidiary Sx3 for an undisclosed sum, following negotiations in October (CI No 3,528). Aurora is a systems integration, training and Windows NT and Unix support company focused on manufacturing, distribution, transportation and public sectors and has assets worth 1.2m pounds. The acquisition, to be completed by the end of November, is designed to support Veridian’s move into unregulated earnings, where it hopes to have revenues of 100m pounds by 2002. Veridian Group was formed in December 1997 out of the restructuring of the Northern Ireland Electricity board into two divisions: NIE and Veridian Capital, which incorporates Sx3, a telecoms section and property services among others. Its interim results, announced on Friday, showed total revenues of 211m pounds, of which Veridian Capital results were 18.6m pounds.

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