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Imtech strengthens ICT activities in Austria with acquisition of Comnet

(PresseBox) (Gouda, ) Imtech (technical services provider in Europe) announces that it acquires the Austrian ICT company Comnet. This acquisition will strengthen Imtech's position in the Austrian ICT market. The acquisition will be paid in cash and will directly contribute to the earnings per share. Employing a workforce of 25 IT specialists, Comnet realises revenue of around 6 million euro per annum.

Imtech CEO René van der Bruggen: 'In the context of our 2015 growth strategy, Imtech aims to further strengthen its relationships with global market leaders like IBM, Microsoft and Cisco in the European ICT market. In Austria, our relationship with Cisco is still modest in scale. Comnet is one of the few independent Cisco partners in this market. The integration of Comnet in Imtech ICT Austria will result in a welcome expansion of our IT services portfolio with, among other things, high-tech network solutions. Since Imtech already has long-term partnerships with Cisco in other countries, internal collaboration will allow us to offer extra added value to our Austrian customers. We consequently forecast further growth in our Austrian ICT activities.'

Comnet company profile

Comnet is a small but strong ICT player that offers hardware and software solutions with high added value on the basis of the Cisco services programme. Established in 1988, the company has its head office in Klosterneuburg near Vienna. Comnet is specialised in the implementation of innovative - primarily Cisco based - network solutions at medium-sized to large organisations and in the Austrian (semi)public sector. Working on behalf of these customers, Comnet is able to manage ICT networks more effectively, optimise them or make them more 'green' and make them more fail-safe and secure. Approximately 50% of the company's revenue stems from maintenance contracts and consultancy, while the other half is generated by the supply of software and hardware solutions. Besides being a Cisco Preferred Partner, Comnet is also a Microsoft Certified Partner as well as a partner of, among other organisations, RSA (IT security solutions) and Joulex (green IT solutions). Comnet's customer base has a good spread in sectors like telecommunications (e.g. a customer like A1 Telekom Austria), banking (including the banks BAWAG PSK and Erste Bank), pharmaceutical (with customers like Boehringer Ingelheim and Novartis), industry (e.g. AIT, Austrian Institute of Technology) and the public and semi-public sectors (e.g. BVA, Versicherungsanstalt öffentlich Bediensteter).

Synergy results in growth in the relatively short term

In Austria, Imtech enjoys strong positions in the ICT market segments business solutions (offering managed services and SAP consultancy, for example), data centres and logistics software. Imtech also has a good starting position in the field of ICT infrastructure. Comnet's Cisco alliance allows Imtech ICT Austria to offer its current ICT infrastructure customers better service and greater added value. Imtech ICT at its turn can also offer complementary ICT services to existing Comnet customers. Since Imtech already has years of experience working with Cisco in other European countries - primarily the Netherlands, Belgium, Germany, Switzerland, the UK and Sweden - the company can offer extra added value to its Austrian customers via internal collaboration. On balance, this will lead to extra growth in the relatively short term. Most of the Comnet management team will stay on after the acquisition, guaranteeing continuity in the organisation. In the longer term, Comnet will be integrated in Imtech ICT Austria.

The acquisition must formally be approved by the Austrian competition authorities.

Imtech N.V. is a European technical services provider in the fields of electrical solutions, ICT (information and communication technology) and mechanical solutions. With more than 27,000 employees, Imtech achieves annual revenue of around 4.5 billion euro. Imtech holds strong positions in the buildings and industry markets in the Netherlands, Belgium, Luxembourg, Germany, Austria, Eastern Europe, Sweden, Norway, Finland, the UK, Ireland and Spain, the European markets of ICT and Traffic as well as in the global marine market. In total Imtech serves 21,000 customers. Imtech offers added value with integrated and multidisciplinary total solutions that lead to better business processes and more efficiency for customers and the customers they, in their turn, serve. Imtech also offers solutions that contribute towards a sustainable society, for example in the areas of energy, the environment, water and mobility. Imtech shares are listed on the NYSE Euronext Amsterdam, where Imtech is included in the Midkap Index. Imtech shares are also included in the Dow Jones STOXX 600 index.