UK outsourcing specialist, the Capita Group Plc (LSE: CPI) announced the acquisition of ICT service group Synetrix Ltd for £75 million in a cash deal with private equity group, the Apax Partners. According to the FTSE100 constituent the acquisition will add to and strengthen its current IT capabilities.
"The acquisition of Synetrix will enhance and expand Capita's current IT capabilities”, Capita Chief Executive, Paul Pindar said, “With the acquisition of Synetrix we will gain a number of key new customers and our enlarged IT services business will benefit from new expertise in a range of areas that support existing capabilities."
Synetrix provides ICT application and communications solutions to public and private sector organisations, specialising in the design, development, integration and deployment of converged networks. The company’s clients include the London Grid for Learning, which comprises all 33 London local authorities, and the East Midlands Broadband Consortium, a group of eight local authorities.
The computer networking specialist is forecasting operating profits of £10.9 million and turnover of £73.7 million, for the year ending 30 June 2010.