IT firm Scisys to create Irish holding company ahead of Brexit

Image
Reuters
Last Updated : Oct 17 2018 | 4:45 PM IST

(Reuters) - Britain's Scisys said it would create a holding company incorporated in Ireland as part of a plan to protect the IT services firm from "potential adverse consequences" when Britain leaves the European Union.

The holding company will be listed on the junior AIM market and the Enterprise Securities Market of Euronext Dublin, Scisys said.

Scisys, founded in 1980, supplies customized software systems and services to the media, space, government and defence sectors.

"It is intended that New SCISYS will be tax resident in the United Kingdom," the Chippenham-based company said.

(Reporting by Justin George Varghese in Bengaluru; Editing by Maju Samuel)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 17 2018 | 4:39 PM IST

Next Story