ICL hives off its training division
Thursday 01 October 1992
The new company, known as Peritas - derived from a Latin word meaning expert and skilful - will be run as a wholly-owned subsidiary of ICL, which itself is owned by Fujitsu of Japan.
It will be one of the UK's largest information technology training companies, training more than 40,000 people a year and achieving annual revenues around pounds 20m.
ICL, which last year saw profits fall from pounds 110m to pounds 62m on increased turnover of pounds 1.88bn, has long been committed to training and research and development.
The move is part of its commitment to open systems and its corporate strategy aimed at targeting itself at software and services rather than hardware. In the past three years it has set up several joint ventures and autonomous companies serving these areas.
Although ICL will continue to account for a significant share of its business, the company aims to expand its range of clients while doubling its revenues within the next five years.
Ken Street, Peritas general manager, said: 'The combination of our technology expertise with the management skills of our training consultants will enable Peritas to provide independent training and business needs analysis at all organisational levels.
'With some companies being almost entirely dependent on IT, it is paramount that training needs are looked at in the context of the broader business perspective to ensure that IT investment is utilised fully and competitive advantage achieved.'
It also seeks to be a pioneer in the development of information technology training throughout Europe as part of a plan to gain a large share of the wider education and training market, valued at more than pounds 33bn in the UK alone.
ICL's staff training division will remain in-house.
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