ICL's on-off flotation now seems definitely off after Naoyuki Akikusa, chief executive at parent company Fujitsu, revealed that the brand would be phased out by March 2002.
The third largest software and IT services supplier in the UK, ICL will instead be renamed to incorporate the Fujitsu brand.
An ICL spokesman told vnunet.com that the change had been made following internal research which showed that ICL's customers trusted the Fujitsu name more than its own.
New names for ICL, and Fujitsu's US consultants DMR, will be unveiled this September, just 12 months after ICL denied that such a move would be made.
ICL made a £70m loss on revenues of £2.77bn in the twelve months to the end of March 2000. Despite job cuts and a property sell off, the firm is expected to report further losses for the 12 months to the end of this March.
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