15th May 2007 07:00
15 May 2007
Sale of WM-data's Caran business to JCE Group
LogicaCMG today announces that WM-data has sold its industrial design and product development operation Caran to Swedish conglomerate JCE Group. The disposal, which follows a competitive process, better aligns WM-data with LogicaCMG's focus on IT and business services.
The transaction values Caran at approximately SEK 400 million (‚£30 million or ¢â€š¬ 43 million), including the impact of agreements with Saab detailed below.
The previously announced agreements involved the acquisition by Caran of Saab Combitech's operations for the development of advanced electronics and software for the automotive industry. In addition, the transactions rationalised Caran's previous joint ventures with Saab. As a result of the transaction, Caran Saab Engineering AB became 100% owned by Saab while A2 Acoustics AB became 100% owned by Caran. These transactions completed in April 2007.
Caran reported revenue of SEK 751 million and adjusted operating profit of SEK 23 million (excluding SEK 11 million profit from associates) in 2006.
The transaction will be completed in early June, with approximately 950 employees transferring to JCE Group.
Crister Stjernfelt, Executive vice-president of the Nordic region for LogicaCMG, said:
"We are pleased to be able to make this announcement today. This transaction will provide good opportunities for Caran to further develop and broaden its design and development offering as a part of an industrial conglomerate.
"Going forward, LogicaCMG will continue to build on our strong position in the Nordics, providing business consulting, systems integration and IT and business process outsourcing across diverse markets including telecoms, financial services, energy and utilities, industry, distribution and transport and the public sector."
For further information, please contact:
LogicaCMG Media relations: Carolyn Esser/Louise Fisk +44 (0) 20 7446 1786 (mobile: +44 (0) 7841 602391)
LogicaCMG Investor relations: Karen Keyes/Frances Gibbons +44 (0) 20 7446 4341 (mobile: +44 (0) 7801 723682)
Notes to Editors
About LogicaCMG
LogicaCMG is a major international force in IT and business services. It employs around 40,000 people across 41 countries. LogicaCMG's focus is on enabling its customers to build and maintain leadership positions using LogicaCMG's deep industry knowledge and its track record for successful delivery. The company provides business consulting, systems integration and IT and business process outsourcing across diverse markets including telecoms and media, financial services, energy and utilities, industry, distribution and transport and the public sector. Headquartered in Europe, LogicaCMG is listed on the London Stock Exchange, Euronext (Amsterdam) and is traded on the Xternal list on the Nordic Stock Exchange . More information is available at www.logicacmg.com
About WM-data WM-data is a part of the LogicaCMG Group. In the Nordics, the company has about 9 000 employees and operates under the brand WM-data, a LogicaCMG company.
About Caran
Caran is part of WM-data, a LogicaCMG company. It offers expertise in all fields of industrial product development. Its cornerstones are design, engineering and productivity. Caran was founded in 1982 and today it has a staff of approximately 950 people. Its offices are located within reach of its main clients in Sweden, Germany, United Kingdom and India. In 2006, it won the prestigious Volvo Cars' Award of Excellence.
About JCE Group
JCE group was founded in 1971 by J Christer Ericsson and is the parent company in a group with operations within several industries in both Sweden and international. The JCE group has its headquarters in Gothenburg, Sweden. JCE group operates in an international environment and a large part of the group activities are located outside Sweden in countries such as: Brazil, Chile, Denmark, Germany, Lithuania, Mexico, the Netherlands, Norway, Poland, the United Kingdom and the United States. The JCE group has interests within the following areas: offshore, forestry, bioenergy, IT, industrial manufacturing as well as financial services and investments in both listed and unlisted companies.
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