London - 12 November 2007

GFT Group, the European provider of innovative IT solutions, has today announced its deal to purchase the assets of Mylorr, specialist programme and project management consultancy. Effective from the 1st November, GFT expects the integration to be completed before the end of 2007.

As part of the GFT Group strategy, GFT UK has strengthened its position in London through this assets purchase, which represents a coming together of two like-minded and complementary companies. Mylorr, a specialist programme and project management consultancy established in 2002, developed Premier, a proprietary methodology for effective project management, and established a solid client list which spans retail, financial services and government. GFT, a financial services specialist, combines the extensive technical knowledge and global business experience of its 1100 strong team, with an alternative approach to outsourcing.

Graham Underwood, Managing Director at GFT UK commented, “GFT and Mylorr are a close fit and we are delighted to acquire the substantial capabilities and experience of the Mylorr team, along with their varied client base. Strengthening our offering in London is consistent with our approach to outsourcing, which focuses on the 4Ps; project, people, place and only then price. We believe that first-rate people in London, meeting a project’s needs, are as important to successful project delivery as offshore headline day rates”.

Julian Mountain, founder of Mylorr, said "I am delighted that we are now part of the GFT Group. Mylorr has successfully carved out a niche for itself in the Programme and Project Management delivery area, with many blue chip clients. With GFT's excellent IT skills this now substantially enhances our offering to include the full IT development lifecycle. We also now have access to over 1100 highly skilled, permanent employees in locations across the globe, and are looking forward to making the most of this new asset”.

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