Two IT services companies are in advanced discussions on acquisition LogicaCMG is on the point of bidding €73 ($89) per share for French IT services company Unilog, it announced Friday. Shares in LogicaCMG dropped on news of the bid, which would value Unilog at around €931 million.The two IT services companies are in advanced discussions, which may lead LogicaCMG to make a friendly offer of €73 per share, LogicaCMG said in a written statement on Friday. The company will make a further announcement in the next few days, it said, and will not comment further until then.Unilog asked to suspend trading in its shares earlier on Friday, following intense speculation ahead of a financial announcement it had scheduled for Monday. In addition, it called on the French stock market regulator to investigate trading in its shares since July 1, since when it said rumors had emerged of a forthcoming deal. Shares in Unilog opened Friday at €69.50 on the Paris stock exchange, peaking at €76.40 before settling back to around €74.10. Shares in LogicaCMG opened at £1.775 ($3.20) on the London stock exchange, dropping as low as £1.63 before settling at around £1.6875, down £0.0875, in late afternoon.Unilog reported net income of €33 million in 2004, on revenue of €657 million. Unilog operates in Austria, France, Germany, Luxemburg, Switzerland and the U.K., employing 7,500, and has offshore operations in Canada, India, Lebanon and Morocco. In 2004, it made around 80 percent of its revenue in France, and 15 percent in Germany.LogicaCMG, formed in December 2002 through the merger of London-based Logica and Dutch IT company CMG, employs around 20,000 people in 34 countries, many of them serving the energy, finance, and telecommunications industries. In 2004, it reported a profit of £13.8 million on revenue of £1.67 billion. DatabasesTechnology Industry