GETRONICS AND NTT DATA CORPORATION CONFIRM SALE OF GETRONICS JAPAN
Getronics increases its service capabilities in one of the world's largest IT markets and looks to further expand its relationship with NTT Data Corporation in the Asia Pacific and Greater China Region.
Getronics today announced the signing of a share purchase agreement on the sale of 70% of its shares in Getronics Japan to NTT Data Corporation, creating a new strategic partnership between Getronics and NTT Data Corporation in Japan. The new partnership enables Getronics to expand its workspace management activities in Japan and increase its international client business with NTT Data Corporation. Getronics will receive EUR 33 million from NTT Data Corporation and retains a 30% share in the new partnership. Getronics has been assisted during the transaction by KPMG Corporate Finance. Completion of the transaction is planned for May 2007.
The new partnership will combine the considerable strengths of both companies in the financial services sector in Japan, drawing upon NTT Data's extensive local service network and Getronics' expertise in workspace management services. In addition, NTT Data Corporation and Getronics will also work closely together to ensure that the new partnership can benefit fully from Getronics' Global Service Delivery Model, enabling the two companies to extend their working partnership beyond Japan. Getronics and NTT Data Corporation are presently actively looking to work together in the Asia Pacific and China Region, providing services together to NTT Data Corporation's clients.
Klaas Wagenaar, Getronics CEO and chairman, states, 'This partnership not only creates a powerful combination in the Japanese financial services sector, it also lays the foundations for future business opportunities globally for both Getronics and NTT Data Corporation, as major Japanese clients look for a global partner in ICT services.'
About NTT Data Corporation NTT Data Corporation is a public company currently traded on the Tokyo Stock Exchange (9613 JP) and is a subsidiary of NTT Group of Japan. NTT is an abbreviation for Nippon Telegraph and Telephone Corporation of Japan. As an $8 billion system integrator with over 20,000 employees globally, NTT Data Corporation has regional offices/subsidiaries in Japan, Asia (Beijing, Shanghai, South Korea, and Kuala Lumpur), Europe (London) and North America (New York, New Jersey, Pennsylvania, Washington D.C., and California).
About Getronics With some 25,000 employees in more than 25 countries and approximate revenues of EUR 2.6 billion, Getronics is a leading international provider of Information and Communication Technology (ICT) services and solutions. Applying its expertise in workspace management, applications, and consulting and transformation services, Getronics helps organisations raise their performance and increase the productivity of their people, by providing them with the ability to share information and to work together efficiently, securely and effectively, wherever and whenever they need. Getronics headquarters are in Amsterdam, with regional offices in Boston and Singapore. Getronics' shares are traded on Euronext Amsterdam ('GTN'). For further information about Getronics, visit www.getronics.com.
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