Bull to acquire Spain's Siconet; sells Bull Portugal to GFI Informatique |
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Published
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Tue, 22 May 2007 07:27
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PARIS (Thomson Financial) - French IT services group Bull SA said it has agreed to acquire Spain's Siconet and has sold its Bull Portugal unit to GFI Informatique.Bull did not disclose the value of either deal.Siconet employs 400 people at its Madrid and Barcelona sites. In 2006, it recorded revenues of 17.8 mln eur, showing growth of 83 pct, and an EBIT margin of 6 pct or 1 mln eur.The acquisition means Bull's revenues in Spain will rise above 100 mln eur this year, the company said.Bull is selling its Portuguese unit in order to focus on core strategic activities.Bull Portugal is present in the market for electronic payment solutions and counts among its customers several large banks and financial institutions, the parent company said, without revealing the unit's revenues.Andrew.Newby@Thomson.coman/anCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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