AT&T; to Acquire British High-Tech Firm
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LONDON — American Telephone & Telegraph Co. said Tuesday that it would purchase British information technology company Istel Ltd. for $292 million (180 million pounds).
Istel operates in a variety of information technology markets including automotive, financial services, health care and manufacturing.
A joint AT&T-Istel; statement said that under the terms of the offer there would be no change of name or management at Istel, which employs about 1,800 people.
The British firm was sold to its managers in 1987 by Rover Group PLC, the former state-run motor manufacturer that itself is now a unit of British Aerospace PLC.
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