VCS Merges with SciSys

In a cash-and-stock deal, U.K.-based SciSys PLC acquired full control of German company VCS AG.
Author:
Publish date:

In a cash-and-stock deal, U.K.-based SciSys PLC acquired full control of German company VCS AG.

Completed 14 September, the deal saw the former VCS owners, Bochum-based Dr. Meng GmbH & Co. KG and Düsseldorf-based WestLB AG, receive nearly 10 percent of SciSys shares. Founded in 1981, SciSys supplies IT services and solutions to clients primarily in the space, defense and public sectors.

SciSys employs a workforce of around 300 at offices in Chippenham, Bristol and Reading in England, as well as in Darmstadt, Germany. In fiscal year 2006, SciSys reported revenues totaling €37 million.

SciSys Chief Executive Mark Hampson and VCS Chief Executive Klaus-G. Meng stated that the "strong cultural and technological compatibility" of the two companies provides a "very good basis" for the new association.

Business collaboration between VCS and SciSys began in the early 1990s. In a press statement, the two companies said that the merger would increase access to markets and extend technical capabilities to new customers.

Related