25th Sep 2015 07:38
LONDON (Alliance News) - FTSE 100 outsourcer Capita PLC said Friday it has acquired UK-based IT network provider Electranet UK Ltd for GBP37 million on a cash-free, debt-free basis.
Electranet runs a UK commercial site which is approved to hold UK government protectively marked information, and can therefore support secure government projects. It reported a pro forma operating profit of GBP2.7 million on revenue of GBP15.1 million for the year to end-February, and is forecasting an operating profit of GBP5.1 million on revenue of GBP26.4 million for its current year.
It will be integrated into Capita's IT Enterprise Services segment.
"The acquisition of Electranet will enable an evolution of our secure IT infrastructure capability. This business will allow Capita to build on its existing expertise and deliver highly secure services to both new and existing customers," said Chief Executive of Capita Andy Parker in a statement.
Shares in Capita were up 0.9% at 1,208.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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