Dutch HR and payroll software and services from Logica to Centric
We supported Logica in the successful carve-out of its Dutch human resources and payroll software and services to IT services provider Centric.
Logica (now part of the CGI Group) is a global IT services and solutions provider. The company decided to carve out its Dutch HR and payroll software and services for small and medium-sized enterprises (SMEs) and local governments after determining that these activities were a limited match with Logica’s strategic direction.
We supported Logica in determining which part of its activities and organization should be divested, managed vendor due diligence, prepared all relevant documentation, set up a limited auction, and approached potential buyers in the Netherlands, Europe and the US. We then conducted the negotiations and advised Logica on the deal’s structure. We worked in extremely close cooperation with Logica’s team through every step of the process, from the initial decision to divest through the successful sale to Centric. Key in our approach was taking the complexity out of a relatively sophisticated carve-out and making it as transparent as possible to potential buyers.
What happened next?
The divested activities enabled Centric to further expand its position and reach in HR and payroll services for the SME and local government market.