| SCH
acquires GE Capital IT Solutions Spain
Date: 6th February 2003
Enhances
leading European IT infrastructure services position in 7 key
European markets.
SCH
and GE today announced that SCH has completed the acquisition
of GE Capital IT Solutions Spain (GECITS Spain)
GECITS
Spain becomes a wholly owned subsidiary of SCH and will integrate
with Info'Products Spain and trade as SCC Spain from March 2003.
The combined Spanish operation ranks No 2 in the Corporate IT
Services & Reseller Marketplace in Spain with SCH holding leading
positions in 7 key European markets; UK, France, Holland, Spain,
Germany, Italy and Belgium.
The
combined operation will:
- Enhance
the integrated solutions and services spanning the whole IT
life cycle to customers across Spain.
- Accelerate
Pan-European vendor engagement with all IT technology vendors
to the benefit of its customers
- Allow
the combined businesses to share important investments and
best practices, and to develop common processes to improve
the scope, quality, and cost-effectiveness of their offerings
- Result
in a total revenue of more than Euro 3bn and over 5000 employees
operating across a pan-European network of 60 key city locations
- Create
a Pan-Spanish operation with combined revenues of Euro 120m
and circa 300 staff operating from a national network of 10
key locations headquartered in Madrid
Chairman
and Chief Executive of SCH, Sir Peter Rigby, sees this as another
milestone in the group's European expansion. He said "GECITS
Spain has both a strong services and enterprise systems bias
in its portfolio and this supports our strategy of growing our
services base and enterprise business and building contracted
revenue streams. This acquisition represents an important step
forward in underlining SCH's position as Europe's leading infrastructure
services provider with the broadest territory coverage.
Eloy
Caro, CEO of SCC Spain said "This is an exciting opportunity
for our customers and employees. Joining the strengths of our
business as SCC positions the combined organisation to deliver
seamless and integrated IT services to customers across Spain"
SCH
is pursuing an aggressive acquisition policy in Europe, with
the aim of being Europe's number one provider of technology
services and products for business advantage.
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