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IPC to acquire Hitachi turret business

18 March 2002  |  1937 views  |  0 stock exchange

IPC Information Systems is to acquire the service and support operations of Hitachi's overseas turret/dealerboard business, for an undisclosed sum.

Under the deal, Hitachi will transfer its international client base for its trading room communication systems to IPC, including 1800 desktop positions across New York, London, Singapore, Hong Kong, Malaysia, Taiwan and Bermuda. The agreement also allows for the transfer of appropriate Hitachi turret support personnel to IPC.

Greg Kennep, president of IPC, says the agreement ensures the continued service and support for existing Hitachi customers and provides them with the opportunity to migrate to IPC's Voice over IP turret, IQMX.

The transaction is expected to close by 31 March, 2002.

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