Getronics to Sell U.S. Alliance Managed Services Unit to Affiliate Partner; 70% of Planned Divestitures Now Complete.Business/Technology Editors BILLERICA Billerica (bĭlrĭ`kə), town (1990 pop. 37,609), Middlesex co., NE Mass., on the Concord River; settled 1637, inc. 1655. An important high-tech center, its manufactures include computer hardware and software, precision instruments, and , Mass.--(BUSINESS WIRE)--May 11, 2000
- Divesting a E160 million revenue business line serving
Original Equipment Manufacturers (OEMs) in the United States with
1,500 people; Getronics continues to provide support directly to
technology partners outside the US and through alliance with
QualxServ within the US
- Getronics retains a 10% equity position in the new spin-off
company
- Latest step in executing Getronics' strategy to focus on high
added-value solutions and services
- Transformation of Getronics' US end-user activities to e-ready
infrastructure services and e-business solutions well developed
Getronics Getronics N.V. (Euronext: GTN) is a largely Dutch-based Information and Communication Technology (ICT) Company whose stated focus is on creating value for business through Workspace Management Services and Application Services. announced today that it has signed an agreement to sell its United States-based Alliance Managed Services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality business line to an investment group that includes members of the unit's management team. Alliance Managed Services, which had accounted for approximately 12% of Getronics' business in the Americas A·mer·i·cas , the See America. , provides maintenance and deployment services for technology manufacturers. The sale of its US OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and business is part of Getronics' planned strategic divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). programme that is now 70% complete. Getronics' Strategy This and other divestitures as shown in the overview below will enable Getronics to focus investments on its core business areas, which are high added-value business solutions and consulting and infrastructure services to end-users. Getronics aims to be one of the leading Information & Communication (ICT (1) (Information and Communications Technology) An umbrella term for the information technology field. See IT. (2) (International Computers and Tabulators) See ICL. 1. (testing) ICT - In Circuit Test. ) solutions providers to end-users in the e-business (Electronic-BUSINESS) Doing business online. The term is often used synonymously with e-commerce, but e-business is more of an umbrella term for having a presence on the Web. world. "Our strategy demands a complete and dedicated focus on the business needs of our clients as they enter the new e-economy," explained Cees van Luijk, Getronics' President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We offer advanced, vendor-independent e-business solutions to enable our clients to gain competitive advantage in their respective markets. We are one of a small number of global e-business solutions providers. Our offering to large corporate clients includes a full range of front and back office solutions that integrate seamlessly into the client's business environment," Mr. van Luijk added. Getronics' Activities in the Americas A continuing strong presence in the Americas is a critical component of Getronics' global strategy. Many of the world's largest companies are headquartered in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and many of today's technologies originate o·rig·i·nate v. 1. To bring into being; create. 2. To come into being; start. there. Upon completion of this US-based divestiture, Getronics will have approximately 8,300 employees throughout the Americas. Following adjustment for the divestiture, Getronics activities in the Americas represent approximately 25% of the company's annualised 1999 revenues. David Goulden, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Getronics in the Americas, noted, "Many of our global solutions are supported by our US Centres of Excellence. Increasingly, we initiate and co-ordinate the development of Getronics' new e-business offerings to global accounts. The development of our expertise and skills in front office applications and e-ready infrastructures is well developed." QualxServ, the new spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. company, is headquartered in Tewksbury, Massachusetts Tewksbury (pronounced IPA: /ˈtʊksbɛriː, ˈtʊksbriː/) is a town in Middlesex County, Massachusetts, United States. The population was 28,851 at the 2000 census. and has offices throughout the United States. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. Lerner, former President of Getronics Alliance Managed Services, is President and CEO. Getronics retains a 10% stake. Mr. Goulden will join the QualxServ Board of Directors. Getronics and QualxServ will enter into a preferred service partnership agreement under which they will continue to work together in both the US and international markets to ensure clients continue to receive their accustomed level of service. Divestiture Programme At the presentation of its 1999 annual results, Getronics announced a divestiture programme totalling E750 million of annualised 1999 revenues. Divestitures of approximately E210 million are still planned to be completed and relate to product distribution activities in Europe. Getronics recently announced a strategic alliance with Merkantildata in the Nordic countries, whereby all Getronics activities are to be transferred to Merkantildata. Getronics will acquire a strategic shareholding in Merkantildata to expand the reach of its solutions and services offering in that region. As a result of the transfer of its integral Nordic operations to Merkantildata, additional revenues amounting to E220 million will be deconsolidated. Based on both the divestiture programme and the effect of the strategic alliance for the Nordic countries, a total amount of approximately E970 million of annualised 1999 revenue will be deconsolidated in 2000.
Status Overview of Divestiture Programme
(in Millions of Euro's)
Status Type of activity Divestiture Revenues to be Total
Programme deconsolidated revenues
as a to be
result of deconso-
strategic lidated
alliance with as of 1
Merkantildata Jan. 2000
Completed - ATM activities,
PC LAN, Vanandel 220 - 220
Announced - Scandinavian
activities 160 220 380
- OEM activities
in the US 160 160
Planned - Distribution
activities in 210 - 210
Total 750 220 970
About Getronics Getronics is one of the world's leading providers of Solutions and Services to the professional users of Information & Communication Technology (ICT). With 34,000 employees at year-end 1999 and a direct presence in 44 countries, Getronics works with many of the world's largest companies to help them maximise the value of their technology investment. Getronics headquarters are in Amsterdam, with regional head offices in Boston, London, Singapore and Washington DC. Getronics shares are traded on the Amsterdam Stock Exchange
The Amsterdam Stock Exchange is the former name for the stock exchange based in Amsterdam. (`GTN'). Further information about Getronics and its Solutions and Services can be found at www.getronics.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion