Imtech acquires three Belgian ICT companies

(PresseBox) ( Gouda, the Netherlands, )
Imtech (technical services provider in Europe) is going to acquire three ICT companies in Belgium. These acquisitions will give Imtech an ICT position in Belgium as well. The ICT companies being acquired are Fit IT, Ebit and Thinking Solutions. The acquisition price (including the earn-out) is based on six times EBITA and will be paid in cash. The acquisition will immediately contribute to earnings per share. The managements of all three companies will stay on after the acquisition.

René van der Bruggen, Chairman of the Imtech Board of Management, considers the acquisitions as Imtech's next logical step in building up its ICT business in Europe. He said: 'We already have strong ICT positions in the Netherlands and Germany. Previously this year we obtained a good position in the UK and now we have done the same in Belgium. The acquired companies fit seamlessly into our ICT portfolio in terms of software, hardware and ICT services. What's more, these latest acquisitions will further strengthen our partnerships with IBM and Microsoft. Imtech's ambition is to develop over time into one of Europe's strongest partners both for IBM and for Microsoft.'

Profiles of Fit IT, Ebit and Thinking Solutions

The three Belgian ICT companies being acquired by Imtech already co-operate intensively with each other and are thus completely familiar with one another. The three companies fit in perfectly with the ICT services portfolio that Imtech also offers elsewhere in Europe. This enables knowledge transfer between employees and makes synergy logical. Fit IT (located at Merelbeke, near Ghent), established in 1996 and now an IBM Premier Partner and Microsoft Gold Certified Partner, specialises in ICT infrastructure solutions and related services. Ebit (also located at Merelbeke) has been a specialist in existing software for a number of years and supplies customised software based on Java and Open Source technology. Thinking Solutions (located at Ghent), established in 1999, is both an IBM Partner (Ascential and Cognos) and an SAP Partner (Business Objects), with specialties including business intelligence, data warehousing and performance management. All three companies have strong reputations and a wide customer base of more than 150 leading customers. In total, the three companies have more than 70 employees and realised revenues of almost 18 million euro in 2007.

Further growth

The three Belgian ICT companies now joining Imtech will be a stepping-stone to further growth, driven by Imtech's European ICT activities and by the financial solvency and strong market position (with revenues of more than 200 million euro) that Imtech already has through its existing business in Belgium.

Imtech strategy

Imtech combines electrical engineering, ICT and mechanical engineering to deliver total solutions. The share of information and communication technology is increasing rapidly. Imtech's total technological solutions are increasingly being dominated by business intelligence and overarching ICT applications. Imtech is expanding its European ICT activities mainly so as to strengthen its position as a business partner of Microsoft and IBM. In the Netherlands, the German-speaking countries and the UK, Imtech has already established a strong position as an IBM and Microsoft Partner via Imtech ICT (the Netherlands), Fritz und Macziol and Infoma® (mainly in Germany, but also in Switzerland and Austria) and REAL Solutions (UK). The ambition is to build up a similar position in more Imtech countries through acquisitions. The acquisition of the three Belgian ICT companies fits perfectly into this strategic framework.
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