The Channel logo

News

By | Drew Cullen 1st April 2008 20:15

EMC buys Brit Microsoft shop

Kerching for Conchango shareholders

EMC is buying Conchango, a UK-based Microsoft-shop for £42m ( $84m). That's a little more than '07 revenues (£38m) and 30 times pre-tax profits (£2.8m) for the AIM-listed firm.

Conchango's "300 professionals" supply IT consulting services for the likes of Tesco, Virgin Atlantic and SKY. It builds big ecommerce websites too.

Conchango bosses Mike Altendorf and Richard Thwaite will run the show post acquisition, this time as heads of EMC's European Microsoft consulting business, within EMC's Consulting & Solutions Integration Services (CSIS) organization. How will that fit on one business card?

EMC has 12,000 worker bees in its global services division. This gives it a useful safety net in the wake of the inevitable fall in prices in its core storage business. Of course, it could always sell more of VMware, the virtualization wonder stock, before that price bubble bursts. ®

comment icon Read 3 comments on this article alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper

Features

Hacked US CENTCOM Twitter account
Roll up, roll up, get your exclusive market insights
Wile E. Coyote goes over the edge again
money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals