Serco Group PLC
26 June 2001
Serco Group plc ('Serco') announces the acquisition of Total IT Ltd
Serco Group plc is pleased to announce that on 26 June 2001 the Company
acquired Total IT Ltd for a consideration of £1.175 million, of which £300,000
will be satisfied by new Serco Group plc shares.
Total IT Ltd is an information technology consultancy and project management
company, providing an opportunity for Serco to expand its own consultancy
business in a sector offering continuing growth potential.
Application has been made to the UK Listing Authority and the London Stock
Exchange for the new 74,535 Ordinary 2p shares to trade on the London Stock
Exchange and to be admitted to the Official list. Dealings are expected to
commence on 29 June 2001.
Kevin Beeston, Chief Executive, Serco Group plc stated: -
'The acquisition of Total IT Ltd complements Serco's existing business and
strengthens its capabilities in the area of IT consultancy. This acquisition
further expands the base from which our consultancy business can grow. I look
forward to personally welcoming staff and customers to Serco.'
- Ends -
For Further Information Contact
Kevin Johnson, Media & Public Relations Manager Tel: +44 (0) 1932 755900
Notes for Editors
Serco is an international task management contractor to government and
industry, providing comprehensive engineering and support services across a
wide range of applications.
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