Icom bought out by Keane in £30m deal

Icom Systems, the Birmingham financial software company, has been bought by Keane Inc. for £30.6 million.

Icom provides business consultancy, workflow and application management for large corporate customers. It employs 330 people.

The management team will remain unchanged, although John Keane Jr will join the board. Icom will change its name to Keane UK from 1 September 1998.

Managing director of Icom Solutions, Irene Brown, said: "It is tremendous to have the support of such a large player. The deal will give us the status and stature to bid for bigger customers."

She added that the buyout offered Icom access to expertise in application outsourcing and data warehousing.