Digica Reaches Management Buy-Out Agreement

Leading midrange and desktop outsourcing supplier, Digica, has reached agreement with its parent company, the DCS Group PLC, for the U.K. and U.S. operations of Digica to be acquired by its existing management team for $33 million. Funding is being provided by Bridgepoint Capital, one of the largest private equity houses in Europe.

Richard Last, who will be CEO of the new corporation, said: "My management team and I are delighted with the opportunity that this provides for the continued development of the business. For our customers, employees and suppliers alike, independence from the DCS Group will allow us to focus on enhancing our position in the growing outsourcing marketplace. The structure of the transaction provides Digica with sufficient working capital to enable the business plan objectives to be achieved. The support of Bridgepoint will also provide us with access to additional working capital to fund our ambitious growth plans in the USA and Europe."

Bridgepoint Capital has a 25-year track record of investing in businesses that will achieve long-term capital growth. They do this by acquiring companies with management, and also leading buy-outs and/or providing further financial resources to help established companies grow. Bridgepoint currently has a portfolio of 150 corporate investments with some $2.5 billion under management and a growing pool of funds from leading institutional investors.

Digica specializes in midrange and desktop outsourcing, providing a range of services tailored to meet its customers' demands. These services include Midrange Server Operations and Desktop Management. Digica also offers ASP Hosting services to software vendors who want to provide their own applications and services to their own customers on a price per user or other subscription basis.

For more information, visit www.digica.com (new window).

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