Capita acquires Synetrix (Holdings) Ltd

Monday 21 December 2009

Capita acquires Synetrix (Holdings) Ltd

The Capita Group Plc today announces that it has acquired 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.

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