The Channel logo


By | Mark Ballard 24th April 2007 14:54

Serco snaps up Cornwell

Engulfs management consulting firm

Public sector services giant Serco has tabled an offer to buy Cornwell Management Consultants Plc, an AIM-listed firm based in Surrey, for £7m.

Serco said in a statement that Cornwell had a good profile with the Identity and Passport Service as an IT and management consulting firm. It was also known in the NHS, and as an expert in document record management systems.

Serco also announced that it had been chosen to appear on the Metropolitan Police Department's Services Framework, which is worth a total of £200m to the select list of suppliers approved under EU rules as no-questions government suppliers.

It was also selected as one of 10 multidisciplinary IT suppliers of services thought to total £1.5bn over the next four years under the government's Catalyst framework.

Cornwell directors, who hold 30.4 per cent of the firm's ordinary shares, have already accepted the offer of 40p per share, which is 64.9 per cent more than the shares were worth at close of trading yesterday, and 15.9 per cent higher than before the offer period opened last October.

Another 22.3 per cent of shareholders have also conceded. ®

comment icon Read 1 comment on this article alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.