XCHANGING, THE outsourced services group, is the latest company whose financial woes are hitting its sponsorship. Fortunately for the annual Oxford and Cambridge boat race, the £2m sponsorship was prepaid but Ken Lever, Xchanging’s finance director has confirmed that a review of the business means it will not be renewed on expiry in 2012. The firm which provides IT services to the likes of BAE systems reported a £110m loss following a disastrous acquisition in India. - 29/3/2011
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