Synstar PLC
17 November 1999
INVESTMENTS IN BUSINESS CONTINUITY IN EUROPE
Synstar Plc, the pan-European IT services group announces
two investments which further strengthen its Business
Continuity services in Europe.
Luxembourg
The group has signed an agreement with Tecsys SA, whereby
Synstar has acquired the Tecsys Luxembourg based Business
Continuity business, for a total cash consideration of
£416,000 (LUF 25 million).
In a full year, the business is expected to generate a
turnover of £220,000 and a profit before taxation of
£65,000.
Synstar is acquiring the assets of Tecsys's business
continuity division, including a fully equipped 64-seat
business recovery centre in the heart of Luxembourg, and
the associated specialist staff who run it.
After completion this will be integrated with Synstar's
existing business continuity interests in Luxembourg,
establishing a combined capacity of 134 seats.
This acquisition positions Synstar as one of the top
three business continuity service providers in
Luxembourg's financial services market.
Commenting on this agreement, Richard Ferre, Chief
Executive of Synstar Plc said:
'While small, this is an excellent acquisition for
Synstar Business Continuity in Europe. Luxembourg has a
unique banking and financial services market, where there is
significant growth potential for business continuity
services. By further establishing Synstar in Luxembourg, we
are now able to position ourselves as one of the top
suppliers of business continuity services in this sector.
The acquisition also furthers our European coverage of
business continuity services, something which pan
European companies are demanding more and more when
choosing a preferred supplier.'
Belgium
Synstar plans to open a new Business Continuity centre in
Belgium, increasing its capacity from 70 to 250 seats.
The centre will be Synstar's new headquarters for
Business Continuity in mainland Europe from February
2000. An official launch is planned in April.
Synstar pioneered mobile recovery services in mainland
Europe in Belgium and enjoys market leadership of the
business continuity sector there. The new centre will be
the first to offer high specification call centre
recovery services in the country.
For further information:
SYNSTAR PLC 01344 662 700
Richard Ferre Chief Executive Officer
Joanne King Investor Relations Manager
GCI FOCUS GROUP 0702 398 0800
Susy Streeter
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.