ABSNet joins Capita IT Services

Monday 13 October 2008

ABSNet joins Capita IT Services

ABSNet joins Capita IT Services.

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 2007.

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.

Mike Mason - ABSNet,CEO, commenting on the acquisition, says, “My colleagues and I strongly believe that this is a positive development for ABS and its customers, employees and suppliers. Capita recognises the strengths of ABS’s relationship with Cisco and its strong customer base, which complements their existing IT Services businesses’ capabilities and service offerings.

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