MERLIN COMMUNICATIONS BOUGHT FOR £95 MILLION

MERLIN Communications have announced that the company have been acquired by Vosper Thornycroft Holdings (VT) for £95 million.
VT are one of the leading civil and defence contractors focusing on support services, shipbuilding and marine products. Employing 7,500 people globally, VT operates in the UK, Europe, United States and Middle East. Their turnover for the holding company for 2000/2001 was £379 million.
The new investment will allow Merlin to strategically exploit future opportunities in the market place and grow the company as a leading global communications facilities management company, whilst remaining an independent subsidiary of the holding company.
VT have recently made a strategic move to broaden the market base of its Support Services business, and the acquisition of Merlin will allow them to achieve this objective.
Merlin's Chief Executive, Fiona Lowry, said: "VT offers us the opportunity to build upon our success to date within a fast growing environment, where we will have access to a larger resource base. This will enable us to fully exploit the significant opportunities we have in our current sales pipeline." (CD)