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Getronics enters into strategic partnership with CompuCom in North America
Den Haag, 23-6-08
KPN announces that Getronics has entered into a strategic partnership with CompuCom, a leading IT outsourcing company in North America owned by Court Square Capital Partners. The strategic partnership is designed to enhance the IT services platforms of both companies and deliver integrated workspace management services on a global basis to both companies’ clients. This new partnership will create the third largest provider of workspace management solutions in North America.
In this strategic partnership, Getronics has sold its activities in North America, consisting of the operations in the United States, the operations in Canada and the Global Service Centre in Mexico, to CompuCom for a combination of cash and shares. Getronics will receive a minority equity interest in the combined entity together with Board representation. The combined entity will have pro-forma 2007 revenues of USD 2.1 billion and combined North American headcount of over 11,000 professionals.
CompuCom is a leading IT outsourcing company providing infrastructure management services, application services, systems integration and consulting services. The combined entity will leverage the extensive workspace management capabilities and resources of both the Getronics’ North American operations and those of CompuCom. Getronics’ global clients will benefit from the expanded scale and presence in the North American market while CompuCom’s global clients will benefit from the strategic partnership that will provide access to expanded global capabilities via Getronics’ global service delivery coverage.
This strategic partnership is a further implementation of Getronics’ stated strategy of February 5th 2008. In major world markets, Getronics is expanding and strengthening its global delivery capabilities for major international clients through its own operations and partnerships. In the Benelux, Getronics continues to strengthen its market leading position in workspace management, data center & hosting services and consulting services.
Banc of America Securities Limited acted as financial advisor to Getronics. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Getronics.
About KPN
KPN is a leading international telecommunications and ICT service provider in the Netherlands, offering wireline and wireless telephony, internet and TV to consumers and end-to-end telecom and ICT services to business customers. KPN’s subsidiary Getronics operates a global ICT services company with a market leading position in the Benelux, offering end-to-end solutions in infrastructure and network-related IT. In Germany and Belgium, KPN pursues a multi-brand strategy in its mobile operations and holds number three market positions through E-Plus and BASE. KPN provides wholesale network services to third parties and operates an efficient IP-based infrastructure with global scale in international wholesale through iBasis.
At March 31, 2008, KPN served over 35 million customers, of which 27.5 million in wireless services, 5.3 million in wireline voice, 2.4 million in broadband Internet and 0.6 million in TV. With 25,925 FTEs (43,409 FTEs including Getronics), KPN posted revenues of EUR 3.6bn and an EBITDA of EUR 1.2bn in Q1 2008. KPN was incorporated in 1989 and is listed on the Amsterdam and Frankfurt stock exchanges, having recently delisted from the New York and London stock exchanges.
About CompuCom
CompuCom, owned by Court Square Capital Partners, is a leading IT outsourcing company providing infrastructure management services, application services, systems integration and consulting services, as well as the procurement and management of hardware and software. With 20 years of IT experience, CompuCom employs more than 7,800 highly skilled associates who have earned a combined total of more than 44,000 industry certifications company-wide. As experts in workplace services, CompuCom’s unique Integrated Infrastructure Management (IIM) solution reduces costs, increases productivity and helps clients gain maximum value from information.
