Morse SAS is an information technology consulting and services business with FY 05 revenues of approximately 55 Million Euros and a forecast of 71 Million Euros for FY 06.

Andrew Nikou, director of mergers and acquisitions at OpenGate Capital, said, "This acquisition fits well with our investment strategy and our focus on corporate divestitures. We plan to build upon the reputation, strengths, and fundamentals that have created a solid foundation for this business."

During the first 90 days, the new organization will announce additional details of its operational and strategic plans, including the new management structure and the company's new name. "We have high expectations for this business and view it as a solid platform that we intend to further capitalize upon by continuing to consolidate the market through a targeted approach, in order to build a larger enterprise and a dominant player," stated Nikou.

With this acquisition, OpenGate Capital adds a strong IT solutions and services provider to its portfolio and gains a solid footprint in Europe. The new company will operate as a stand-alone entity, led by its own management team.