Computacenter "Very Comfortable" With Current Expectations For 2020

Fri, 30th Oct 2020 09:37

(Alliance News) - Computacenter PLC on Friday said third quarter of 2020 ended "as anticipated" and the company remains "very comfortable" with current expectations for 2020.

The Hatfield, Hertfordshire-based information technology infrastructure services provider has entered the fourth quarter with "good" short-term visibility and a strong order backlog.

The company hopes the previously announced acquisitions of Pivot Technology Solutions Inc in Canada and BT Services France will have a "marginal" positive effect on 2020 results but should together add significantly to 2021 performance.

Computacenter on Wednesday last week announced a deal to buy Toronto Stock Exchange-listed IT solutions provider Pivot Technology Solutions. The company agreed to pay CAD2.60 cash for each Pivot share, the deal worth CAD105.8 million - nearly USD80 million or GBP62 million - based on the firm's 40.7 million shares.

The sale of BT Services France by BT Group PLC was agreed in July. The business will be renamed Computacenter Network & Systems.

Computacenter shares were down 0.8% early Friday at 2,280.00 pence.

By Tapan Panchal; tapanpanchal@alliancenews.com