GFI closes Informática El Corte Inglés acquisition bringing revenues to €2.3bn

GFI Informatique has closed its mammoth acquisition of El Corte Inglés' IT division, bringing its global revenues to €2.3bn and creating a "benchmark" player in Europe's IT services industry. The deal was approved by relevant competition authorities and officially closed yesterday. First announced in December, the acquisition saw Saint-Ouen-based GFI acquire 100 per cent of the retail giant's IT services business in Spain, Portugal and Latin America. The EL Corte Inglés arm generated...