Contact:
Matthias Sturm
Phone: +43 1 402 48 51
E-Mail: sturm@temmel-seywald.at
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Vienna, Austria (pts057/31.03.2003/18:05) - S&T AG and Fujitsu Services Limited have agreed in principle to a transaction whereby S&T AG will acquire subsidiaries of Fujitsu Services in 7 countries, namely the Czech Republic, Greece, Hungary, Malta, Poland, Romania and Slovakia. The parties have also signed a service agreement that will ensure the continued high level of IT services to Fujitsu's existing customers in these countries.
This acquisition, the largest in S&T's history, will significantly strengthen the company's market presence in Central and Eastern Europe and open up new markets in Greece and Malta. Some 300 people will be added to the organization and revenue contribution is expected to be around EUR 30 million for the remainder of 2003, contingent upon the necessary merger approvals and therefore the timing of the consolidation of results.
Fujitsu Services companies in these markets have concentrated on providing IT products and services for large international companies (e.g. Auchan and
Sabre Group), governmental institutions (especially in Slovakia and Romania) as well as EU Accession projects. In most cases, these activities complement S&T's own activities, so that a positive effect from synergies can be expected.
"As the two organizations are so well matched, we expect fast and painless integration into one strong and customer-oriented force in the countries", said Karl Tantscher, CEO of S&T AG. "Our regional management structure will be able to provide the attention to the integration process, while keeping track of the operative business", he added.
Commenting on the agreement, Tim Escudier, Fujitsu Services Group Executive Director for EMEA said: "Our group strategy for some time has been to focus on our core, critical mass territories whilst developing relationships with strong partners. This agreement cements this strategy and we look forward to working with S&T to support existing clients and to develop new offerings for clients in the future."
About Fujitsu Services
Fujitsu Services is one of the leading IT services companies in Europe, the Middle East and Africa. It has an annual turnover of £2.4 billion (EUR3.9
billion), employs 15,500 people and operates in over 30 countries. It designs, builds and operates IT systems and services for customers in the financial services, telecoms, retail, utilities and government markets. Its core strength is the delivery of IT infrastructure management and outsourcing across desktop, networking and data centre environments, together with a full range of related services, from infrastructure consulting through integration and deployment.
Headquartered in London, Fujitsu Services is the European-centred IT services arm of the Fujitsu Group. The Fujitsu Group is a $38 billion (about EUR43 billion) leader in customer-focused IT systems and services for the global marketplace.
Prior to April 2002 Fujitsu Services operated as ICL.
About S&T
S&T is one of the leading providers of IT solutions to customers in 16 countries in Central and Eastern Europe and Turkey. S&T offers IT consultancy services, develops and implements tailor-made IT solutions and provides 24-hour service and consultancy. S&T has the specialised knowledge of backup and disaster recovery functions required for highly critical applications. S&T focuses on meeting the needs of large and medium-size enterprises, in particular those in the telecoms, banking, energy, public authorities and health sectors.
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