Logica Terug naar discussie overzicht

Logica ge(RIP)t

1. niche 010 6 juni 2012 18:12

   auteur info

   • niche 010

     Lid sinds: 07 sep 2006

     Laatste bezoek: 08 dec 2023

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   Helaas weer een mooi bedrijf (m.i. te goedkoop) van de beurs, who's next?
   Een overzicht.
   
   groet,
   
   Niche
   
   History
   20th century
   
   Logica was founded by Len Taylor, Philip Hughes and Pat Coen as a systems integration business in 1969.[6] Early projects included the control system for the natural gas grid in the UK in 1971 and the design of the SWIFT network for international money transfers in 1973.[6]
   
   In 1974, Logica, together with the French company SESA, set up a joint venture, Sesa-Logica, to undertake the European Informatics Network development. This project, undertaken with the support of partners throughout Europe and with the assistance of Bolt, Beranek and Newman in Cambridge, Massachusetts, brought the core datagram technology of the Arpanet, now the Internet, to Europe for the first time, and established a network linking research centres in a number of European Countries, including CERN, the French research centre INRIA and the UK’s National Physical Laboratory.[7]
   
   In 1975, Logica developed the first electronic typing pool – Unicom – for Unilever.[8] This development allowed the complete functions of a typing pool to be automated into a single system supporting about 50 workstations. With the support of the UK’s National Enterprise Board the company established a new subsidiary to exploit this technology, Logica VTS.[8] A range of stand alone word processors, the VTS 100 and the VTS 2200, were developed and were manufactured at a purpose built factory in Swindon. These machines were sold internationally by BT and by International Computers Ltd and were amongst the first word processors to achieve mass sales. However the advent of the Personal Computer and software such as Microsoft Word led to the decline of this business and its ultimate closure.[9]
   
   At this time Logica set up operating subsidiaries in the Netherlands, Australia, Sweden, the United States and elsewhere as well as joint ventures in Hong Kong with Jardine Matheson, in Italy with Finsiel and in the UK with British Airways. The Company floated on the London Stock Exchange on 26 October 1983.[6]
   
   In 1984 the Company developed the automated clearing system for the UK banks (CHAPS)[6] as well as the customer service system for British Telecom.[6]
   
   The Company pioneered the automated ticketing system for London Underground in 1987[6] and the system which randomly generates premium bond numbers (ERNIE) in 1988.[6]
   
   During the late 1980s and early 1990s the Company was led by David Mann.[10]
   
   Dr Martin Read was recruited from GEC Marconi and appointed CEO in August 1993.[6] Most of the executive directors left the company during the two years following his appointment - David Mann, Colin Rowland Andrew Karney, Ian Macleod and Cliff Preddy.[11] In 2001 the Company secured an outsourcing contract to create and operate a new case management system for the Crown Prosecution Service.[12] At this time the level of Dr Read's remuneration received attention when it was revealed that he enjoyed a £28 million pay packet.[13]
   21st century
   
   The merger of Logica (60%) with CMG (40%), on 30 December 2002, represented the union of an established technology firm (Logica) with an established consulting firm (CMG).[14] In December 2003 LogicaCMG’s software controlled the Beagle 2 probe after separation from the Mars Express orbiter.[15]
   
   In 2005 LogicaCMG purchased 60% of the Portuguese company Edinfor,[6] and in March 2008 purchased the remaining 40%. In 2006, LogicaCMG purchased the French company Unilog and the Swedish company WM-data.[6]
   
   The Company suffered some embarrassment in 2006 when laptops containing police payroll data were stolen from LogicaCMG[16] and an outsourcing contract with Transport for London for IT services was terminated early after disputes over payments and service level agreements.[17]
   
   On 20 February 2007 LogicaCMG Telecom Products was sold for £265m (US $525m) to private investors Atlantic Bridge Ventures and Access Industries and became known as Acision.[18]
   
   Following a profit warning in 2007,[19] Andy Green was recruited as the new CEO and took office from 1 January 2008.[20] On 27 February 2008, the Company changed its name back to Logica.[6] In April 2008 Green announced a major restructuring programme for the company, leading to 1,300 job losses.[21] Also in May 2008 the Company announced that it would offshore more of its activities including SAP support and HR and payroll administration to Makati City in the Philippines[22] and has seen a subsequent increase in its outsourced HR and payroll services business to more than 850 customer organisations.[23]
   
   In December 2011 Logica announced it would axe 1,300 jobs or around 3 percent of the workforce spread across Benelux, the United Kingdom and Sweden and save Logica 50 to 60 million pounds sterling a year from the second half of 2012.[24]
   
   On 31 May 2012 Canada's CGI Group agreed to buy Logica in a £1.7bn cash deal.[3] Rothschild, Bank of America Merrill Lynch and Deutsche Bank AG advised Logica on the sale, while Goldman Sachs is handling the acquisition for CGI.[4][5]
   Operations
   
   Logica is a management consultancy, outsourcing and IT services and solutions company.[25] Its activities include:
   
   Supporting the missions of over 150 orbiting satellites.[26]
   Processing more than $100 billion of salaries globally each year.[27]
   Supporting 300 telecoms operators in 130 countries.[28]
   
   
2. niche 010 6 juni 2012 22:11

   auteur info

   • niche 010

     Lid sinds: 07 sep 2006

     Laatste bezoek: 08 dec 2023

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   Ik kon het niet laten om Andy ff te mailen,
   
   Mister Green,
   
   As a Dutch shareholder i would like to say that i'm disappointed about the decision to sell the company. The way i see it is that you are selling us short, when you started the share price was 117p, supporting the 105p offer means you accomplished a negative result. You should be ashamed!.
   
   Subject: Re: Disappointment
   Date: Wed, 6 Jun 2012 20:10:08 +0100
   From: andy.green@logica.com
   
   Sir, I am sorry to hear you feel like that. We have paid good dividends throughout as well as the price. And I am afraid the world was very different at the beginning of 2008. We are in the middle of what looks like the longest period of recession Europe has ever seen.
   Andy Green
   
   groet,
   
   Niche