Mike O'Leary, chief executive of Marlborough Stirling, says intermediaries should see no hiving off of The Exchange as a result of today's bid announcement.
While the deal should enable Marlborough Stirling to pitch for larger contracts as an IT services supplier, as far as users of The Exachange are concerned there should be no changes noticed. "The Exchange is now owned by a FTSE 100 company," O'Leary says. From Marlborough's perspective the deal means it will now be able to bid for larger contracts that its balance sheet as a standalone business could not previously support. Vertex, the wholly owned subsidiary of United Utilities that is buying the company, will bring a balance sheet that enables the IT company to pitch for contrac...
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