Logica Acquires Czech IT Services Company
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Logica Plc, a large British system integrator, announced one of the largest ever acquisitions in the Czech IT sector--a US$11 million deal to acquire FCC Folprecht group.
FCC Folprecht is a systems integrator, and provides complex solutions in the area of information systems, ERP and Internet/intranet business solutions in the utilities, finance and industrial sectors. It is known especially for its strong SAP implementation practice. Its revenues were CZK 630 million ($21 million) for 1997.
The acquisition will add approximately 270 employees to Logica's Czech staff of 70, and will create one of the largest companies in the Czech IT services sector.
"I believe that this is a key moment in the maturity and growth of the Czech IT services market," said Jan Kubat, managing director of Logica's existing Czech operation, who will head up the enlarged group.