13 October 2008
CAPITA ACQUIRES NETWORK SERVICES FIRM, ABSNet
The Capita Group Plc ("Capita") today announces the acquisition of ABS Network
Solutions Limited ("ABSNet") for a consideration of £13.6 million, net of cash
acquired. The acquisition will add valuable new expertise and capacity to
Capita IT Services' existing networks business.
With a range of private and public sector clients, ABSNet provides IP based
business networking solutions, including network management, unified
communications, on-site support and remote assistance. ABSNet has a strong
vendor relationship with CISCO as well as holding advanced accreditations in
specialist areas of CISCO technologies.
ABSNet reported profit, on a pro forma basis excluding owner's appropriations,
of £1.6 million on turnover of £17.1 million for the year ended 31 December
Paul Pindar, Chief Executive of the Capita Group Plc said: "The acquisition of
ABS Networks will enhance and broaden Capita's position in the network services
market. In addition ABSNet will bring CISCO accreditations and capability in
emerging technologies, while the strong relationship that they have with CISCO
will enable cost savings in spend on equipment across the Capita Group."
Mike Mason, Chief Executive of ABSNet, said: "ABSNet has a strong track record
in implementing secure and scaleable IP based business solutions which drive
productivity, innovation and business transformation. Using cutting-edge
technology, we enable companies and organisations to enjoy both cost reductions
and improved competitive advantage. I am confident that being part of the
larger and more diverse Capita Group will allow us to reach our full potential
across both our private and public sector markets."
ABSNet employs 56 staff all of whom are based in Crawley.
For further information please contact:
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Tel: 020 7799 1525
Capita press office
Tel: 0207 654 2152 or 0870 2400 488 (out of hours)
Notes to editors:
The Capita Group Plc is the UK's leading provider of integrated professional
support service solutions. The Group's service capabilities encompass customer
services, financial services, human resource services, software services,
systems and strategic support and property services delivered to both public
sector and private organisations. With over 32,200 employees at more than 300
offices across the UK, Ireland and India, Capita is quoted on the London Stock
Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2007 of
Further information on The Capita Group Plc can be found at: http://