CMG PLC - Acquisition
July 02 1998 - 3:30AM
UK Regulatory
RNS No 7563f
CMG PLC
2nd July 1998
CMG plc acquires French IT Services company
CMG plc, the European IT Services Group, announces that
yesterday it acquired 100% of COMETH Conseil S.A. and COMETH
System S.A. ("COMETH"), two Paris-based IT services companies
operating in the Industry sector. The total consideration is
FFr29.4 million (#2.94 million) to be paid in cash.
COMETH, which has been established for over 5 years, provides
SAP consultancy and services to organisations in France. The
company had a turnover in 1997 of FFr17 million (#1.7
million) and profit before tax of FFr3.3 million (#0.33
million). The acquisition is expected to make a positive
contribution to CMG's 1998 earnings before goodwill
amortisation. COMETH's previous owners remain with the
company, as do all 38 employees.
Commenting on the acquisition, Gerard Brouwer, Country
Director for CMG France, said, "The acquisition extends CMG's
base of SAP business in France. CMG has now exceeded 100 SAP
business and technical specialists in France, making it one of
the leading SAP partners in France."
For further information, contact
Gerard Brouwer, CMG France
Tel: +33 1 55 20 5000
Chris Banks, Finance Director, CMG plc
Tel: +44 171 592 4000
Toby Mountford, Citigate Communications
Tel: +44 171 282 8000
END
ACQUBUBUMBGRGMG
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