1 February 2012
Capita acquires Smiths Consulting Limited
Capita plc (`Capita') has acquired Smiths Consulting Ltd for a cash
consideration of £10m on a cash free, debt free basis, with a further
contingent consideration of up to £2m based on profit performance over the next
two years.
Smiths Consulting is a SAP consultancy that specialises in delivering business
change enabled by technology .The company has a strong customer presence in
markets that include government, aerospace, telecommunications and finance.
The acquisition will enhance Capita's existing in-house SAP consultancy
capabilities by creating a core hub of expertise and resource.
Smiths Consulting's employees are spread across the country and its business
operations are located in Newcastle, with additional offices in London and
Chelmsford. The business has 52 direct employees and is supported by 150
associates.
Smiths Consulting made a pro forma operating profit for its financial year to
31 March 2011 of £2.4m on a turnover of £11.8m.
Commenting on the deal, Paul Pindar, Capita Chief Executive, said: "Smiths
Consulting has a loyal customer base that will benefit from Capita's scale and
the scope of service offerings delivered by the wider Group. The individuals at
Smiths Consulting have a breadth of experience in the delivery of SAP
solutions, which is a valuable capability to bring into the business -
particularly as we focus on providing flexibility and adaptability in our
approach to IT transformation projects, regardless of their size."
-ends-
Media enquiries
Capita press office
Kirsty Sewter
Tel: 0207 654 2386 or 020 7654 2399 (out of hours)
Notes to editors
Capita plc is the UK's leading provider of BPO and integrated professional
support service solutions. With 45,000 employees at more than 350 sites,
including 64 business centres across the UK, Ireland, the Channel Islands and
India, the Group uses its expertise, infrastructure and scale benefits to
transform its clients' services, driving down costs and adding value. Capita is
quoted on the London Stock Exchange (CPI.L), and is a constituent of the
FTSE100 with revenues for 2010 of £2,744 million. Further information on
Capita plc can be found at: http://www.capita.co.uk
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