Thu, 19 Dec 2019 | BUSINESS SALE
The acquisition of SCISYS Group by Canada-headquartered IT services company CGI has been completed. CGI agreed the deal to acquire Dublin-based SCISYS in June for £78.9 million, it was expected to complete in November but was delayed ahead of the December 12 UK general election.
SCISYS employs around 670 staff and operates from its registered office in Dublin as well as from UK offices in Bristol, Chippenham, Leicester and Reading, along with four German offices: Bochum; Darmstadt; Dortmund and Munich. Originally headquartered in Chippenham, the company relocated to Dublin to avoid losing business on EU space programs.
The company works across several sectors, including as a developer of information and communications technology, web and mobile applications and advanced technology systems. One of its main offerings is as a provider of satellite ground segment infrastructure for customers such as the European Commission. It reported £29.4 million in revenue for the first six months of 2019, up 2 percent.
SCISYS Chairman Mike Love said: "With the completion of the acquisition of SCISYS by CGI the current directors of SCISYS will be resigning and will be replaced by new directors appointed by CGI," said SCISYS chairman Mike Love.
"This marks the end of a 40-year epoch during which SCISYS traded as an independent company. Its growth and success over this period has been entirely due to the collective efforts of many individuals.” He added: "We wish the current team and CGI every success going forward."
Tara McGeehan, CGI president of UK operations, added: "We are very excited for the SCISYS team to be joining us. The merger unites two great companies that share a dedication to their employees, clients and the communities they serve."
The company is focused on the delivery of IT- enabled (majoring in SAP) business change consultancy services, taking an innovative, technology-driven approach to projects and utilising industry-leading tools to drive sustainable changes at all levels...
RELOCATABLE
Turnover of £1.7m, with an adjusted EBITDA of £445k. Management turnover of £2.28m, with an adjusted EBITDA of £686k. The company specialises in the supply of a wide range of car audio parts, such as amplifiers, speakers, dashcams and subwoofers, and...
LEASEHOLD
Provides a wide range of IT business solutions such as software, hardware, cloud storage and consultancy services. The business works closely with its clients to provide bespoke hardware and software.
LEASEHOLD
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