LONDON, Dec. 22, 2003 (PRIMEZONE) -- COLT Telecom Group plc (Nasdaq:COLT) announced today that it had sold its software services subsidiary, Fitec, to Devoteam.
Commenting on the disposal COLT President and CEO, Steve Akin said: "As we continue to refocus our product portfolio the majority of services provided by Fitec are no longer core to our business."
About COLT
COLT Telecom Group plc is a leading pan-European provider of business communications services. COLT has over 17,000 network services and data centre solutions customers. The company owns an integrated 20,000 kilometre network that directly connects 32 major cities in 13 countries augmented with a further 42 points of presence across Europe and 11 Data Solution Centres. COLT supplies customers across the full spectrum of industry, service and government sectors with unrivalled end-to-end network security, reliability and service.
COLT Telecom Group plc is listed on the London Stock Exchange (CTM.L) and NASDAQ (COLT). Information about COLT and its products and services can be found on the web at www.colt.net
About Fitec
Founded in 1992 and based in France, Fitec is a value added services integrator providing design, implementation and management services. It was acquired by COLT in 2001 and subsequently renamed COLT eCustomer Solutions France SAS and specialises in providing technical solutions that optimise the information systems supporting e-business applications.
About Devoteam
Devoteam is a European IT consulting group.
Combining consulting and technology solutions enables Devoteam to provide its customers with independent advice and effective solutions that meet their strategic objectives (IT performance and optimisation) in complementary areas: networks, systems infrastructure, security and e-business applications.
The group achieved a turnover of 136 million euros for 2002 and has 1,400 employees through seven European countries (Austria, Belgium, Denmark, Spain, France, Holland, UK). Devoteam is listed on the Euronext Paris Nouveau Marche.
This information is provided by RNS
The company news service from the London Stock Exchange