Logica on pounds 60m spending spree

Saturday 19 December 1998 00:02 GMT

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Logica on pounds 60m spending spree

LOGICA, the computer services group, yesterday splashed out over pounds 60m on two acquisitions, taking its spending over the past few months to more than pounds 100m. Logica is buying Aethos Communications, a Bristol-based software group specialising in pay-as-you-go mobile phone systems, for pounds 47m and DDV, a Dutch telecoms and new media consultancy, for pounds 15.6m. Martin Read, Logica's chief executive (pictured), said the acquisitions reinforced Logica's leading position in the telecommunications sector. The deals, combined with an upbeat trading statement, helped boost Logica shares 17p to an all-time high of 527p.

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