GE Capital IT Solutions has boosted its UK turnover by #45 million in UK through the acquisition of Brighton-based Systems International (SI).
The company will merge SI into existing operations up to #110 million. No staff losses are expected, according to Michael Kianfar, SI managing director and founder.
Terms of the deal were undisclosed.
He declined to discuss any further GE UK acquisition plans. ?But obviously we are not going to hang around at number five, six or seven for too long.?
Kianfar will join GE?s European management team in Germany. At the same time, John Casson, a former Cabletron European director, is joining the GE as UK managing director.
Kianfar said: ?A lot of people are hoping that GE will screw up on integration. But they will be disappointed.?
He said he had rejected six bid approaches, three from the UK, one from Europe and two from the US, in the last year. ?The others were not very exciting to me. They were about winning some battles. The GE scenario was about winning the war.?
?If you are going to stop playing with your own bat and ball, you should make sure you are playing with a really big bat and a really big ball,? he said.
Systems International?s corporate customers include Amex, Sainsbury?s , and Safeway.
Casson will beef up GE?s UK geographic coverage and service business. He shares managing director responsibilities with Michael Brecht. Kianfar envisages a future in which GE Capital IT Solutions could have up to 18 managing directors.
?This is a highly intellectual business, which is building an organisation for the 21st century. It is not the old command and control organisation. GE has implemented a phenomenal entrepreneurial model It sets common themes and goals and then it gives responsibilities to managing directors for each particular segment. It lets you to go out and develop your business, without getting in your hair.?
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