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CIBER acquires UK-based Ascent Technology LtdGREENWOOD VILLAGE, Colo. – May 24, 2004 – CIBER, Inc. (NYSE:CBR) today announced a major addition to its UK operations with the acquisition of Ascent Technology Ltd, of Hinckley, Leicestershire. Ascent has annualized revenues of approximately $40 million (£23 million) and is profitable. The company is a leading UK partner for both SAP and Sage ERP solutions and the author of the Ascent customer relationship management software. “Ascent has a strong track record of growth and operational performance in the UK marketplace. It focuses on developing long term customer relationships with Small-Middle Market Enterprises (SME) and delivering Enterprise Solutions with recurring revenue streams,” said Terje Laugerud, CIBER’S CEO of European Operations. “Peter Lloyd, Ascent’s founder, and his management team, have developed an extremely sound business model based on the Sage Line 500 ERP product line, from Sage Enterprise Solutions. Additionally, Ascent has successfully created an SAP model aimed at delivering pre-packaged mySAP All-in-One solutions to SME’s in selected vertical markets. The success of its delivery model is demonstrated by its position as Sage’s most successful partner worldwide and SAP’s UK VAR of the year in 2003.” “This portfolio is further complemented by some of Ascent’s proprietary software solutions. As an ISV and Microsoft Gold Partner, Ascent is showing success with its new product developments under the Microsoft .Net framework. The activities of this .Net Practice, fit nicely with our existing operations in London and Oxford.” Peter Lloyd, Ascent’s CEO, added, “We wanted to join forces with a larger industry player to exploit both vertical and geographical market opportunities. CIBER facilitates the perfect blend of local entrepreneurship, with a very credible international model and an excellent reputation for delivery. We are delighted to have made this fit as we separate from our partners 3i (UK venture capitalist) who have given us excellent support over the last 2 years.” “The stability of Ascent’s model, with recurring revenues accounting for approximately 30 percent of its income, the additional footprint in the UK, and skills that complement our UK and other European operations are compelling. We look forward to growing together and performing well as the UK market continues to recover,” said Roger Cousins, CIBER’s UK Country Manager. “The acquisition transaction cost is approximately $40 million and it is believed Ascent will operate with approximately 12 percent operating margins beginning September 2004, after summer holidays. We believe the combination will add approximately $.02 to 2004 earning and $.04 to 2005 results,” said Peter Harris, CIBER’s European Financial Director. About CIBER, Inc. CIBER, Inc. (NYSE:CBR) is a leading international system integration consultancy with superior value-priced services for both private and government sector clients. CIBER’s services are offered on a project or strategic staffing basis, in both custom and enterprise resource planning (ERP) package environments, and across all technology platforms, operating systems and infrastructures. Founded in 1974, the company’s consultants now serve client businesses from over 60 CIBER and 11 CIBER Europe offices. With offices in 10 countries, annualised revenue of approximately $850 million and more that 7,250 employees, CIBER’s IT specialists continuously build and upgrade our clients’ systems to “competitive advantage status.” CIBER is included in the Russell 2000 Index and the S & P Small Cap 600 Index. CIBER, ALWAYS ABLE. Forward-Looking and Cautionary Statements |
Mike Townend
Doug Eisenbrandt Industry ExpertiseContact Information For more information, contact: CIBER UK No 2 Watling Drive Sketchley Meadows Business Park Hinckley Leicestershire LE10 3EY Tel: +44 (0) 870 000 0204 Fax: +44 (0) 870 000 0205 Email: enquiry@ciber-uk.com Enquiry Form |
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