Xpedior sheds U.K. unit
The struggling Internet consulting company sells its U.K.-based operations, Xpedior UK, to Arthur Andersen for an undisclosed amount.
The move comes amid tough times at Chicago-based Xpedior, which, like other companies in its sector, has recently taken a beating over weakened demand for Internet-related consulting services.
Xpedior said it intends to use proceeds from the sale of Xpedior UK for general working-capital purposes. Financial terms of the deal were not disclosed.
Xpedior UK's 65-person staff and other assets will be transferred to Arthur Andersen's newly created U.K. unit, Digital Solutions, to be led by Xpedior UK's former managing director.
"We recognized Xpedior UK as a consultancy that could effectively combine with us to create a full service offering from strategy to execution," John Kerr, Arthur Andersen's European head of business consulting, said in a statement.
Faced with a gloomy Internet consulting sector, Xpedior recently shut down several offices and slashed its work force as part of a plan to shift its business focus. The company has been busy shifting gears to focus on providing clients with help in integrating their Web-based systems with traditional applications. Xpedior intends to target companies that compete in several specified markets including retail and distribution, telecommunications and financial services.