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IT firm Scisys to create Irish holding company ahead of Brexit

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(Reuters) – Britain’s Scisys <SSY.L> 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)

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