The House of Commons Public Accounts Committee – mainly known for criticising Whitehall waste – said a joint venture between the Radiocommunications Agency and private firm CMG (UK) Ltd was a ‘bold and innovative venture…carefully assessed and managed’.
The PAC applauded the creation of a joint venture – Radio Spectrum International – to provide the agency with IT services and help market its expertise and proprietary information technology systems abroad.
The venture is currently turning in a profit after early losses. It was formed under ‘robust contract’ after all risks were assessed.
The PAC said the venture was a deserved success and welcomed moves by the Radiocommunications Agency to draw up lessons to help other government agencies repeat the experience.
The Trade and Industry secretary holds a 30% stake in RSI, with the rest of the stock held by CMG.
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