Apr, 2001 : Electronic Data Systems to buy Systematics

📅 April 2, 2001 - American computer services firm Electronic Data Systems Corp. announced on Monday that it is planning to buy its German peer Systematics AG in a deal involving stocks and cash that is valued at approximately $570 million. EDS says the move will double its presence in Germany.

Last month, the Texas-based EDS agreed to pay $670 million to Sabre Holdings Corp. in exchange for airline data centers and other technology holdings. The company says it expects the two deals will not affect its earnings for 2001, but expects they will add to its bottom line in 2002.
EDS said the acquisition of Systematics, which is expected to close around the middle of the year, is intended to strengthen EDS's position in industry segments like finance, government, insurance and telecommunications.
According to EDS, the move has a particular emphasis on enhancing the company's European operations. The company feels that by combining Systematics? local knowledge and contacts with EDS's significant infrastructure, EDS will be able to provide Europe with a comprehensive service.
With a major presence in Berlin, Cologne, Munich, Frankfurt and Stuttgart, Systematics specializes in e-business and computer services like Web hosting and systems management. The company reported revenues of $570 million in 2000.

Reads: 1960 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/eds402.cfm
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