Capita acquires Synetrix (Holdings) Ltd
21st December 2009
CAPITA ACQUIRES SYNETRIX (HOLDINGS) LTD
The Capita Group Plc ("Capita") today announces that it has acquired Synetrix
(Holdings) Ltd ("Synetrix") from funds advised by Apax Partners ("Apax") and
the management of Synetrix for a cash consideration of £75m, net of cash
acquired.
Synetrix is a provider of ICT application and communications solutions to both
public and private sector organisations. Synetrix specialises in the design,
development, integration and deployment of converged networks, hosted
application solutions, managed security solutions and software platforms.
Clients for its broadband and infrastructure services include the London Grid
for Learning, comprising all 33 London local authorities, and the East Midlands
Broadband Consortium, a grouping of eight local authorities.
Synetrix is forecasting an operating profit for the year ending 30 June 2010 of
£10.9 million on a turnover of £73.7 million.
Capita IT Services currently offers organisations the full ICT lifecycle
ranging from business analysis through to a fully managed service. The
acquisition of Synetrix will add to and strengthen Capita's IT capabilities.
Paul Pindar, chief executive of The Capita Group Plc, said: "The acquisition of
Synetrix will enhance and expand Capita's current IT capabilities. 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 Ltd has circa 193 employees, based in offices in the Midlands and
South East.
-ends-
For further information please contact:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Press enquiries:
Capita press office
020 7654 2399
The Capita Group Plc is the UK's leading provider of BPO and integrated
professional support service solutions. With 36,000 people at more than 300
sites, including 62 business centres across the UK, Ireland, the Channel
Islands and India, the Group uses its expertise, infrastructure and scale
benefits to transform its clients' services, driving down costs and adding
value. Capita is quoted on the London Stock Exchange (CPI.L), and is a
constituent of the FTSE100 with revenues for 2008 of £2,441 million.
Further information on The Capita Group Plc can be found at: http://
www.capita.co.uk
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