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Canada's CGI to buy Scisys in ?78.9m deal

Fri, 14th Jun 2019 13:42

(Sharecast News) - Scisys shares surged on Friday after Canadian IT services company CGI offered to buy the London-listed computer software services group for 254.15p a share in cash.The offer, which values Scisys at around £78.9m, has been unanimously recommended by the company's board of directors. The price represents a premium of about 24.6% to Scisys' closing price on Thursday.Scisys investors will also be entitled to a 2018 final dividend of 1.73p a share, which will be paid on 26 July.Scisys chairman Mike Love said: "We believe Scisys and CGI are highly complementary businesses sharing similar values and are confident that the combination will enable Scisys to benefit from CGI's size, strength and global reach."CGI's president and chief executive officer George Schindler said: "CGI's offer to merge its operations with those of Scisys is aligned to our Build and Buy strategy, providing opportunities to expand our industry depth in space, defence, government and media in the UK and Germany."Scisys' industry-leading expertise and IP-based services and solutions will provide an opportunity to globalise certain platforms utilising the broader CGI geographic footprint and client relationships."At 1340 BST, Scisys shares were up 23% at 250.02p.
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23 Jul 2010 11:03

Small caps round-up: Sirius, Sterling Energy, Amur ...

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23 Jul 2010 07:18

SciSys 1H Trading In Line With Views

LONDON (Dow Jones)--SciSys PLC (SSY.LN), a supplier of bespoke ICT software systems, IT based business solutions and support services to the Media Broadcast, Space, Government & Defence, Environment and Applications Support sectors, said Friday trading for the first half ended June 30 has been in li

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25 Mar 2010 17:36

Small Caps round-up: Digital Barriers, Northbridge Industrial, Nanoco..........

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3 Dec 2009 13:35

Small caps round-up: Max Property, Findel, SciSys

Max Property has increased its net asset value to 103p a share since floating on AIM in May. Nick Leslau's property investment company made its first acquisition of a portfolio of commercial properties in August. The placing in May raised £211.4m at 100p a share. The Industrious property portfolio

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3 Aug 2009 11:26

Small cap round-up: YouGov, Lok'n'store, International Ferro...

Market researcher YouGov's trading has met expectations recently despite continuing difficult trading environment experienced by the entire marketing services sector. "The company has begun to see the benefits of the increased focus on its key growth areas of business as well as the cost reduction

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28 May 2009 09:02

Small caps round-up: Borders & Southern, AT Communications, Scapa ...

Falklands Islands-focused oil group Borders and Southern said it is ready to seek partners for its licenses after defining a multi-billion barrel prospect inventory in the South Falkland Basin. The group posted a pre-tax loss of £4.7m in 2008, compared with £336,000. While noting that the price of

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15 May 2009 07:51

Scisys wins BBC gig

Software systems provider Scisys has won a framework contract with the BBC to provide audio editing and play-out solution. The contract is likely to be worth £10m to £15m and will run from 2009 to 2013 as the BBC refreshes most of its audio editing and play-out (AE&P) systems. Scisys’s subsidiary,

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