IT services provider LogicaCMG is to acquire Swedish firm WM-data in $1.66bn (£0.87bn) deal aimed at improving the company’s prospects of securing major global contracts.
The combined company will have nearly 40,000 staff in 41 countries. Its revenue would put it in the global top 20 IT services firms and make it the seventh largest in Europe.
Logica sees the acquisition as key to positioning it strongly in Scandinavia, where the Swedish firm has a presence. The Nordic IT services market is the fourth largest in Europe, after Germany, the UK and France.
Logica chief executive Martin Read said, “Increasingly, our customers want to do business with a smaller number of larger suppliers who can provide them with a broader range of offerings and support them internationally. The acquisition of WM-data will further strengthen LogicaCMG’s market position and its ability to win large global contracts.”
WM-data chief executive Crister Stjernfelt said, “By combining with LogicaCMG, which is a leading international IT services player, WM-data will strengthen its competitiveness and be able to give global support to both existing and new customers. With access to LogicaCMG’s global sourcing model, we can strengthen our offering within outsourcing and make our product development more efficient.”
Vote for your IT greats
Who have been the most influential people in IT in the past 40 years? The greatest organisations? The best hardware and software technologies? As part of Computer Weekly’s 40th anniversary celebrations, we are asking our readers who and what has really made a difference?
Vote now at: www.computerweekly.com/ITgreats