Mergers and Acquistions News
Categories: IT Services & Consulting
June 5th 2009, 14:55PM
Outsourcing firm Capita has been told by the Competition Commission that it must sell part of the software business IBS Opensystems, which it acquired last year for £78 million.
The watchdog ruled in April that the deal would result in a reduction of competition in the market for revenue and benefits software, which local authorities use to administrate council tax and payments.
Capita has now been ordered to sell the revenue and benefits component of IBS OpenSystems as quickly as possible or face losing the entire IBS business.
Christopher Clarke, chairman of the inquiry group investigating the matter, said the merger left only one other supplier competing for business.
"We consider that the adverse effects of the merger will have an impact on all customers, whether they are in the process of tendering for new R&B software or already have a contract for such software in place," he commented.
Capita is reportedly in early talks with several interested parties regarding the partial sale.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)
- May 2011 (20)
- April 2011 (18)
- March 2011 (21)