Monday, March 16, 2009

BT Acquires IT Consulting Firm Net2S

BT has completed its acquisition of French corporate IT services vendor Net2S and has delisted the company from NYSE EuroNext Paris. It paid E5.27 ($7.45) per share for the 2.75% of equity it did not already own.

It said Net2S, with 800 employees providing IT consulting and engineering services to clients in the financial services, telecoms, and manufacturing sectors, will be integrated into its systems integration and consulting divisions. Net2S has offices in France, the US, and Morocco.

In October 2007, BT acquired 68.6% of Net2S from four controlling founding shareholders for E68.5m ($96m).

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