Getronics today announces that it has reached an agreement to sell 33,500 Class B Preferred Stock in the US network solutions company DigitalNet Inc. to a US based investment fund. One of the closing conditions is a 45 days period in which DigitalNet or its shareholders have the possibility to match the offer. This matching condition (a right of first refusal) was agreed at the time of the sale of Getronics Government Solution-business to DigitalNet. Getronics expects, if all conditions are being met, to close the sale of the shareholding on 28 October 2003.
This transaction is part of the Getronics programme to dispose non-core assets. The proceeds will be used to further strengthen the Company’s balance sheet.
Total cash proceeds will be USD 27 million and the book profit will be approximately EUR 5 Million.
Getronics acquired the DigitalNet shares in 2002 as part of the sale of Getronics Government Solutions. DigitalNet builds integrates and manages enterprise-wide network computing solutions for government organisations.
Claris Capital has acted as financial advisor to Getronics in respect of the sale of the shareholding in DigitalNet.
About Getronics
With 23,000 employees in over 30 countries and revenues of EUR 3.6 billion in 2002, Getronics is one of the world’s leading providers of vendor independent Information and Communication Technology (ICT) solutions and services. Getronics today combines the capabilities of the original Dutch company with those of Wang Global, acquired in 1999, and of the systems and services division of Olivetti. Getronics is ranked second worldwide in network and desktop outsourcing and fifth worldwide in network consulting and integration (Source: IDC July-August 2002).
Getronics designs, integrates and manages ICT infrastructures and business solutions for many of the world’s largest global and local companies and organisations, helping them maximise the value of their information technology investments.
Getronics headquarters are in Amsterdam, with regional offices in Boston and Singapore. Getronics’ shares are traded on Euronext Amsterdam (‘GTN’). For further information about Getronics, visit www.getronics.com