BT has signed an agreement to acquire Stemmer GmbH and SND GmbH — German companies constituting the enterprise IT services segment of net AG, listed on the Prime Standard of the Frankfurt Stock Exchange.
“This acquisition will add complementary skills and capabilities to our existing portfolio. Stemmer and SND have an excellent reputation in the IT services area,” said François Barrault, chief executive of BT Global Services.
“This transaction will complement BT’s strengths in the German market and we will be able to offer our customers an even broader portfolio of end-to-end networked IT services,” he added.
The completion of the acquisition is subject to obtaining regulatory clearance. As at the last audited balance sheet on 30 September 2007, the combined gross assets of Stemmer and SND were EUR9.7 million.
Wireless Federation » BT takes over German IT services firms (UK)
BT takes over German IT services firms (UK)
- July 3rd, 2008
- 6:18 am
