IBS OpenSystems is to be acquired by Capita. At the time of writing, Capita’s offer had been declared ‘unconditional’, effectively signalling that the deal will take place. Capita’s offer of 187.85 pence for each IBS share is a premium of some 65 per cent on IBS’s average share price for the three months to 24 April 2008.
Bill Loughrey, managing director, IBS OpenSystems, said, “We have invested heavily in our range of housing, contractor, revenues and financials applications and we are confident that these products will continue to receive investment and support for many years to come. From an existing IBS customer’s perspective, it is very much ‘business as usual’ as we evolve the range of functionality and features available with our applications.”
Capita also recently bought the entire issued and to-be issued share capital of Computerland. It is now a wholly-owned subsidiary of Capita and will be run as a separate business unit, enhancing Capita’s business-process outsourcing capability to deliver managed services.