London, UK - 18 October 2002 - City Practitioners Ltd (CPL) today announces the proposed acquisition of TCA Consulting Ltd, the wholly owned subsidiary of the Terence Chapman Group plc (LSE: TCG). The formal acquisition by CPL is expected to take place in November 2002 following a Terence Chapman Group Extraordinary General Meeting.
CPL is a successful, niche IT services consultancy delivering collaborative outsourcing and operational consultancy to the investment banking community. The privately owned and funded company has adapted well to the current market and continues to prosper, having grown year on year in response to customer demand.
Tom Kozlowski, executive chairman, CPL, said: "We are very pleased to confirm our purchase of TCA Consulting Ltd. The acquisition is a natural and logical step for CPL as we look to extend our practices into other areas of the financial services sector."
TCA Consulting Ltd has enjoyed a good reputation in providing business and IT consultancy to customers primarily in corporate and investment banking, private and retail financial services and investment management.
Kozlowski continued: "The company's strengths include its staff, proven processes, implementation methodologies and experience in financial sectors in which we currently have no presence."
He added: "Our vision is to create an innovative, entrepreneurial and client-focused consultancy. The combination of strengths from both these organizations means we will be able to provide greater service, advice and stronger implementation capabilities to our clients."