UXC launches Ingena takeover bid

UXC launches Ingena takeover bid

UXC aims to build up a major Australian professional services group through an off-market takeover bid

UXC has launched a takeover bid for Ingena Group

UXC has launched a takeover bid for Ingena Group

UXC (ASX:UXC) has launched an off-market takeover bid for management consulting and professional services provider, Ingena Group (IGL).

UXC executive chairman, Geoff Lord, said IGL would round out UXC’s services offering. As part of the takeover, IGL will help form the new Professional Solutions Group of UXC.

“We’ll encourage them to grow in their own right, as well as expose some cross marketing opportunities between their product and our services,” he said. “They’re in a professional services sector that we’re not in and they’ll play a significant role in UXC’s future.”

IGL will continue to be managed by its current CEO, Paul Fielding, who will report to Lord.

IGL has roughly 150 staff that will be kept on-board. UXC has about 4000 employees and contractors along with revenues of about $725 million.

Lord said he aimed to wrap up the takeover bid by Christmas.

“We want to keep growing as a company, and we’re always looking for people to join us,” he said.

“The IT industry has been dominated by overseas players for a long time, there’s no reason that we can’t build major Australian houses as well and that’s what we’re trying to do. “

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Tags IGLingena groupUCX

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