BT buys North tech firm BIC Systems

NORTHERN technology firm BIC Systems has been sold to British Telecom for about €25 million.

BIC employs 160 people at its offices in Dublin and Belfast and has been in business for 20 years. The company was set up by three Queen's University graduates.

Esat BT chief executive Bill Murphy said the deal was an exciting purchase for BT and was a signal of its expansion plans outside the telecoms market.

"This is a unique and exciting development for both companies. I believe the acquisition will create a company of incomparable experience at a time when the North's IT future looks bright and when IT skills have never been more essential.

"The joint capabilities of both organisations will offer exciting opportunities for business and operations throughout the island both for the public and private sectors."

BIC Systems was founded by Ed Vernon, with backing from fellow Queen's students John Convery and Dessie McGlade. It is not known how much each of these will receive from the takeover.

BT said it will not change either of the brands in the North or the Republic and said the two would be "enhanced through association with each other and by capitalising on the individual and distinct strengths of each".

BT did not reveal BIC Systems' most recent financial figures yesterday, but it is believed BIC's annual turnover is around e50m and the company is believed to be profitable.