SCISYS Group provides a range of professional services in support of the planning, development and use of computer systems in the space, media/broadcast and defence sectors, as well as to other public and private sector enterprises.
The Canadian IT services company CGI is acquiring SCISYS for 254.15p in cash, together with the final dividend of 1.73p. The offer values the entire issued and to be issued ordinary share capital of SCISYS at c £78.9m. At the scheme meeting and EGM held on 7 August 2019, shareholders voted to approve the scheme to implement the offer and resolutions to approve and facilitate the scheme were duly passed at the EGM. SCISYS expects the deal to complete in the second half of 2019 and is currently working with CGI to satisfy the remaining conditions and obtain final High Court approval. On 14 October, the company announced that it has been selected by Shearwell Data to provide IT services, project management, integration and maintenance of software in Defra’s innovative Livestock Information Programme (LIP).
SCISYS is a specialist provider of high-value IT solutions, focusing on specialist markets of space, media and broadcast, and defence sectors, along with other public and private sector enterprises. In recent years, weakness across the group’s significant public sector customer base has been offset by strong performances from space and defence.