Thursday, 28 August 2008

Serco makes US SITS acquisition

Just as Capita doesn’t want to be described as an IT company, the same applies to Serco. Problem for Holway was that in 2005 Serco acquired ITNET which had quite clearly been designated as a SITS company. Indeed, Serco are one of the largest suppliers of SITS to the UK public sector and the third largest supplier to the UK Local government sector.

So news that Serco yesterday has acquired SI International – a NASDAQ quoted provider of SITS services to the US Dept of Defense – is clearly of interest. Serco are paying $423m. See FT Serco targets US with agreed SI bid. Analysts seem to believe Serco has overpaid, however.

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