British software firm Logica has acquired the bulk of Australian-based Utilities Services Corporation's (USC) IT services arm, to hit the local energy and utilities sectors with an "unrivalled" portfolio of IT solutions.
Under the $85 million deal, Logica, a global software, integration and IT consultancy, gains access to MITS, USC's IT systems division of 550 staff, and its IT consulting arm Prospect. USC will receive a maximum $20 million adjustment for the excess of net assets.
Logica will use the acquisition to develop its brand in the Australian-Asia Pacific region, said Logica Australia board director Jim McKenna. The deal will also open expansion opportunities to Logica in the telecomms, financial services, distribution and transport, and public sectors, according to company executives.
ASX-listed USC will retain its Mosaic intellectual resources for use in e-commerce, knowledge management and other applications outside its Scada utility sector, an ASX statement read. USC will also keep its infrastructure and business services units. The utilities-focused software and service provider has 700 staff.