Telecoms giant BT Group has sold its application development services business in France to the Paris-listed IT services company, Osiatis.
The division employs around 100 employees, 80% of which are engineers and experts in Java J2EE and Microsoft.Net development, according to Osiatis.
In a brief statement, BT said that the sale "allows BT Global Services in France to focus further on its core strategy, which is to offer networked IT services and communications solutions to corporate customers and the government sector."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The unaudited gross assets of the business being sold were €1.84m at March 31st.
According to Osiatis's press release, the acquired company is expected to generate annual sales of around €8m after it's incorporated.
BC
-
Where are ISA savers and investors putting their money?With less than three months until the end of the tax year, where are ISA savers and investors putting their money? We look at the latest ISA trends.
-
More than £53 billion held in fixed-rate cash ISAs will mature by April - where should savers move their money?If your fixed-rate cash ISA is maturing soon, we look at the options available to you
