11.9 billion kronor bid for WM-data

Anglo-Dutch technology services firm LogicaCMG on Monday launched a recommended takeover bid for WM-data, valuing its Swedish peer at 882 million pounds.

“LogicaCMG announces an offer to acquire the entire share capital of WM-data, a leading Nordic IT services provider,” the group said in a statement to the London Stock Exchange.

The takeover, worth 11.9 billion Swedish kronor, would create the seventh largest European IT services company in terms of revenue, and one of the top 20 companies worldwide, it said.