Getronics snaffles PinkRoccade
€338m Dutch buy-out
Brief The two biggest Dutch ICT service companies - Getronics and PinkRoccade - are to merge. Getronics will buy the outstanding shares of PinkRoccade, listed on Euronext Amsterdam, for €338m. The management board will be chaired by Klaas Wagenaar, existing chairman and CEO of Getronics.
The companies believe that the new combination will have a much stronger presence in the ICT services markets in the Benelux, the UK, Spain and Italy and in other continents, with annual revenues in excess of €3bn and a workforce of more than 29,000 operating in 30 countries. One-off savings are estimated at €35m to €45m.
The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten), Euronext Amsterdam NV and the trade unions have been informed of the intended offer. ®