18 August 2017
visit www.avoka.com

Deutsche sells majority Sinius stake to Siemens

08 January 2003  |  3601 views  |  0 Deutsch Bank

Deutsche Bank has reduced its previous majority stake in IT services provider Sinius GmbH to 19.84% by selling another 50.16% to Siemens Business Services (SBS).

Sinius was spun off from the German bank as a wholly-owned subsidiary in August 2000 in an effort to offer its bank specific IT expertise to third party banks.

In February 2001, SBS acquired its first 30% stake in Sinius. With the latest transaction, Siemens' holding has grown to 80.16%.

Sinius is headquartered in Dusseldorf and maintains 24 offices across Germany with a total headcount of 1250.

Deutsche Bank says the firm will continue to be its preferred partner for decentralised IT services in Germany as well as centralised user help desk services.

Deutsche says the sale to Siemens is consistent with its strategy of concentrating on core businesses. Financial terms of the transaction were not disclosed.
KeywordsINSURANCE

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CSFB agrees $2 billion Pershing sale to Bank of New York

CSFB agrees $2 billion Pershing sale to Bank of New York

08 January 2003  |  3809 views  |  0 comments
IBM clinches EUR2.5 billion Deutsche Bank outsourcing deal

IBM clinches EUR2.5 billion Deutsche Bank outsourcing deal

18 December 2002  |  6534 views  |  0 comments | 1 tweets
Deutsche Bank GFS goes live on Omgeo CTM

Deutsche Bank GFS goes live on Omgeo CTM

10 December 2002  |  4971 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.eudownload the paper nowvisit www.worldpaymentsreport.com

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10361 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8546 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7963 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7939 views comments | 3 tweets | 7 linkedin