Latest News
28th June 2010
Star Net clients to merge
2008 economic downturn has driven many blue chip companies to merge with market's competitor to maximise cost savings and business efficiency.
Star Net's client URS Corp (URS.N) said its unit agreed to buy British design and engineering consultancy Scott Wilson Group Plc (SWG.L) for 161 million pounds in cash. Scott Wilson shares were up 87 percent at 224 pence this morning on the London Stock Exchange.
This follows the recent news of the acquisition of Subsea 7 by the rival Norwegian Acergy creating a company of 12,000 employees and worth £3.6bn. The companies expect the deal to result in cost savings of at least $100m per year.
Star Net is eager to continue supporting these companies throughout their integration process and beyond.