Getronics sells off Austrian, Czech, Slovak and Polish operations
30 June 2006 | 1495 views | 0
Getronics and Kapsch, a family-owned specialist Austrian Communications and Information Technology company, today announced an agreement under which Kapsch will acquire the business activities of Getronics in Austria, the Czech Republic, Slovakia and Poland.
Getronics will continue to maintain a strong presence in the region through its Global Service Centre in Budapest.
Getronics, the international workspace ICT services company, announced today that it has signed an agreement with Kapsch group whereby the business assets and liabilities of Getronics Austria, and all shares in Getronics Czech Republic, Slovakia and Poland will be transferred to Kapsch. The agreement, conditional upon regulatory (anti-trust) procedures, is expected to close by mid-September 2006. The deal is proceeding in full accordance with all relevant laws and regulations.
The decision to sell Getronics' operations in Austria, the Czech Republic, Slovakia and Poland was the result of a thorough strategic review of the company's operations in late 2005. Early in 2006, Getronics, assisted by KPMG Corporate Finance, began looking for a suitable strategic business partner in the region. Kapsch was selected because of its excellent reputation and the considerable potential synergies arising from the deal.
By acquiring Getronics' Austrian, Czech, Slovak and Polish operations, Kapsch will be able to expand its presence in the ICT market, leveraging the high quality ICT services delivery capabilities and the skilled personnel of the Getronics operation and its coverage in the region. This deal enables Getronics to focus on strengthening and expanding its core businesses worldwide while continuing to provide the same high levels of service to its international clients in the Austrian, Czech, Slovak and Polish markets through its strategic business partner and its Global Service Centres.
Getronics' Hungarian operations and, in particular, its Global Service Centre in Budapest will continue to play an important role in Getronics' global operations and will remain a key hub for servicing its clients in Eastern Europe and the rest of the world.
Getronics' Austrian, Czech and Polish operations employ approximately 270 people and had a turnover in 2005 of approximately €45million. No further financial details will be disclosed.