Transaction

Advised: ICL on the acquisition of a stake in Aquarius Robotron

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Deal summary

International Computers Limited (ICL) was a British computer hardware, computer software and computer services company that operated from 1968 until 2002. It was formed through a merger of International Computers and Tabulators (ICT), English Electric Leo Marconi (EELM) and Elliott Automation in 1968. The company's most successful product line was the ICL 2900 Series range of mainframe computers.

In later years, ICL diversified its product line but the bulk of its profits always came from its mainframe customers. New ventures included marketing a range of powerful IBM clones made by Fujitsu, various minicomputer and personal computer ranges and (more successfully) a range of retail point-of-sale equipment and back-office software. Although it had significant sales overseas, ICL's mainframe business was dominated by large contracts from the UK public sector, including Post Office Ltd, the Inland Revenue, the Department for Work and Pensions and the Ministry of Defence. It also had a strong market share with UK local authorities and (at that time) nationalized utilities including the water, electricity, and gas boards.

"ICL and Aquarius are forecast to have over 600k unit PC sales in total in 1995, and the 1 mil figure is in range."
David Mills Managing Director, ICL Products Operations
  • Deal value

    Undisclosed

  • Location

    London, England, UK

  • Sector(s)

    Technology

  • Deal type

    Equity

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