CMG Croma Grp

RNS No 3268v
CMG PLC
6th January 1998


     CMG plc acquires Belgian IT Services company

CMG plc, the listed European IT Services Group, announces
that it has acquired 100% of CSS (Computer Specialists
Services), an IT services company operating in the
Finance, Government and Industry sectors in Belgium.

The company, which has been established in Belgium for
over 8 years, had a turnover in 1997 of around BFr 160
million (#2.7 million) and was profitable. The
consideration is ca. BFr 70 million (#1.2 million).  The
company is expected to make a positive contribution to
CMG's earnings in 1998.

All 29 employees including management will remain with
the company, which will report to CMG management in
Amsterdam. The previous owner of the company will stay as
an advisor for at least 6 months.

The acquisition provides CMG with a strong client base in
key Belgian business sectors, as well as providing a
stepping-stone for future growth in the Benelux region.
The work which CMG currently does in Belgium for its
Dutch finance sector clients will be merged with the
operations of CSS to form a new company, CMG Brussels,
based at Zaventem, on the outskirts of the capital.

Commenting on the acquisition, Koos Zwerver, a director
of CMG Netherlands, said, "We have been asked
increasingly by our Dutch clients to carry out projects
for them in Belgium. This acquisition provides us with
the ideal base from which to provide these services, as
well as giving us a strong platform on which to develop
further business with our new Belgian client base."

For further information, contact:

Michael Harrington, 
Group Communications, 
CMG plc                       Tel:   0171-233 0288


END

ACQUBUGAGBGRGGQ

Croma Grp (LSE:CMG)
Historical Stock Chart
From Jun 2024 to Jul 2024

Croma Grp (LSE:CMG)
Historical Stock Chart
From Jul 2023 to Jul 2024