euro adhoc: GFT Technologies AG
Mergers - Acquisitions - Takeovers
GFT
Technologies AG plans to take over Parity Group's Resourcing Solutions business
in Germany and France
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.01.2006
GFT Technologies AG, one of the leading European providers of innovative IT solutions, is soon to acquire all of Parity Group's Resourcing Solutions business in Germany and France.
The purchase of all shares in Parity Beteiligungsgesellschaft GmbH with its subsidiaries Parity Eurosoft GmbH and Parity Selection GmbH, together with Parity Eurosoft SARL, France, is planned with retrospective effect from 1/1/2006.
The total transaction sum, EUR 8.4 million, consists of a EUR 7.7 million cash payment and EUR 0.7 million in debt repayments.
The companies being acquired are part of the Resourcing Solutions Mainland Europe division of the Parity Group plc, based in London. It is predicted that the objects of the takeover will earn revenues of EUR 43 million in 2005. They currently employ 40 people - 30 in Germany and 10 in France. Parity already has many years of experience in the area of managing IT services providers and has a solid client base including well-known customers in the post and logistics, banking and insurance and IT services sectors.
For GFT, the planned purchase represents a major step on the path towards becoming the leading supplier for the management of IT services providers. The takeover will also make GFT one of Frances main suppliers.
end of announcement euro adhoc 25.01.2006 19:04:46
Further inquiry note:
Andrea Wlcek
Investor Relations Manager
Telefon: +49(0)7724 9411-440
E-Mail: andrea.wlcek@gft.com
Branche: Software
ISIN: DE0005800601
WKN: 580060
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade