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£10 million management buy out agreed for Cyborg Systems in the UK


US based Cyborg Systems Inc., a major international developer and supplier of human resource management systems, has agreed terms for the sale of its British business to the UK management team.

The four executive directors of the UK business are David Stallion, Ann Fitzpatrick, Terry Forrester and Ed Ramshaw. Each will take a shareholding in the new company, together with Lloyds TSB Development Capital Ltd, which is providing the venture capital for the management buy out.


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