IT services supplier SciSys has bought German business VCS AG for €16.7m.
VCS has been trading for more than 20 years and it will increase the presence of SCiSys in the space and broadcast sectors. It will also make it less dependent on the UK. VCS also brings its own niche software products.
SciSys is paying €14.3m in cash plus 2.82m shares - VCS has more than €2m of cash in the bank. VCS made profits of €2.5m on turnover €16m in 2006.
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