ICT and ALTEN enter into an agreement concerning the sale of ICT German activities to ALTEN
Barendrecht / Paris
Today, ICT Automatisering (ICT) and ALTEN announced, that they have reached an agreement related to the sale of ICT German activities to ALTEN GmbH, a German subsidiary of the ALTEN Group.
ALTEN is a French worldwide leader in Technology Consulting and Engineering with offices in 17 countries (Europe, Asia, USA) and is headquartered in Boulogne-Billancourt, France.
ICT Germany has been operating in a highly concentrated market, which is further consolidating rapidly. It does not have the critical mass to compete with the major players in the industry. Despite its excellent long term customer relationships and its highly skilled work force, ICT does not expect the German activities to grow into a position of sustainable profitability, and has decided to discontinue its activities based in Germany.
“We regret the circumstances dictate the decision to discontinue our activities in Germany. With the interest of our customers and employees in mind, we have succeeded in finding the right partner in ALTEN”, according to Jos Blejie CEO ICT Automatisering.
With this sale, still subject to the formal approval of the Federal Cartel Authorities, ICT will transfer its activities to ALTEN, comprising 90 highly qualified engineers. These operations will improve ALTEN’s offers in the fields of Embedded Software Development and bring a considerable added value to the ALTEN Group.
“This approach follows the long term goal of ALTEN developing specialized know-how in order to meet constantly growing demands of customers and to establish a strong brand throughout Germany. With this acquisition, ALTEN strengthens its position on the German market. “ said Simon Azoulay, CEO ALTEN-Group.
ALTEN, a leading Technology Consulting and Engineering firm in Germany, serves the main industrial companies thanks to 2,000 highly educated employees.
Following the sale of the German commercial activities, ICT intends to liquidate its German subsidiary. Financial details about the divestment will not be disclosed, but on balance, the result on the divestment of the German activities will be slightly positive for ICT. In addition, as a consequence of the liquidation, a deferred tax benefit can be recognized in 2015.
ALTEN will continue to developing its know-how and market shares in Germany through organic growth and further acquisitions.
ICT Automatisering (ICT) provides high-quality technological solutions in the information and communication technology domain, particularly in these application areas (verticals): Automotive, Logistics, Machine & Systems, Industrial Automation, Energy & Utilities and Healthcare. The company is active in the Netherlands and in Germany. The solutions, which ICT offers clients, involve the secondment of experienced and highly educated staff, realizing system solutions on project basis and offering services to maintain ICT systems. Through participations, ICT is also active in Traffic & Transport and Testing.
For more information:
Femmy de Rijk, Manager PR & Communications at ICT Automatisering N.V.
Telephone: + 31 (0)88 908 2000 / +31 (0)6 10 51 3745. E-mail: Femmy.de.rijkREMOVETHIS@ANDTHISict.nl
As a European Leader in Technology Consulting and Engineering (TCE), ALTEN carries out design and research projects for Technical and IT divisions of major clients in industry, telecoms and services.
Some 17,700 employees, of whom 15,600 are qualified engineers, daily strive to ensure that clients achieve their objectives. ALTEN counts 2,000 employees in Germany, is present at 17 locations throughout Germany and can offer in its own technical centres or on-site with clients integrated developments in the field of standard engineering services and complete solutions in the areas of telecommunications and IT security.
ALTEN’s stock is listed in compartment A of the Euronext Paris market (ISIN FR0000071946); it is part of the SBF 120, the IT CAC 50 index and MIDCAP 100, and is eligible for the Deferred Settlement Service (SRD).