OUTSOURCING giant Capita has bought Newcastle firm Smiths Consulting in a ?10m deal which will boost its computer consultancy services.
The London company is hoping to grow the Tyneside firm, which also has offices in London and Chelmsford in Essex.
Smiths, which provides consultancy to companies in a wide range of sectors, is expected to grow its current 52-strong workforce which is supported by 150 associates across the UK.
Smiths Consulting is a SAP consultancy that specialises in delivering business change enabled by technology. The company has a strong customer presence in markets that include government, aerospace, telecommunications and finance.
Capita said the deal, which includes another payment of up to ?2m depending on performance over the next two years, will enhance its existing in-house SAP consultancy capabilities by creating a core hub of expertise and resource.
Paul Pindar, Capita chief executive, said: ?Smiths Consulting has a loyal customer base that will benefit from Capita?s scale and the scope of service offerings delivered by the wider group.
?The individuals at Smiths Consulting have a breadth of experience in the delivery of SAP solutions, which is a valuable capability to bring into the business ? particularly as we focus on providing flexibility and adaptability in our approach to IT transformation projects, regardless of their size.?
Smiths made an operating profit of ?2.4m on a turnover of ?11.8m in the year to the end of March 2011 and that is expected to rise following the takeover.
Smiths is a SAP consultancy that uses technology to help companies achieve new objectives by using their workforce, processes and tools in the most effective manner.
Its clients operate within sectors including government, aerospace, telecommunications and finance.
Smiths is to be rebranded as a division within Capita with its managing director Stephen Lee taking up a role as SAP sales director.
The deal is the latest in a series of acquisitions for Capita which most recently paid ?21m for specialist insurance broker Fish Administration from private equity firm Inflexion.
Preston-based Fish provides insurance products to people with disabilities, including cover for adapted vehicles, travel and mobility scooters, and to the independent living and care sectors. It employs 30 staff and achieved operating profits of ?3.5m for the year to last May on turnover of ?5.8m.
Last month Capita?s bought translation services company Applied Language Solutions in a deal worth up to ?67.5m and in September it acquired the private sector call centre division of outsourcing business Vertex for ?40.5m.
Smiths Consulting has a loyal customer base that will benefit from Capita?s scale and scope of service
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