Fujitsu buys German reseller
Snaps up TDS
Fujitsu Services is taking a majority stake in German reseller TDS AG.
Fujitsu will pay General Atlantic Partners for its 74 per cent share in the company. Fujitsu will pay €2.8 per share for the firm - 14 per cent higher than they were trading at close on Friday.
Other shareholders are also selling out, so Fujitsu should end up with a 79.1 per cent stake in TDS. Regulators still need to approve the deal.
The directors of TDS welcomed the take-over approach.
Winfried Holz, CEO at Fujitsu Services GmbH, welcomed the deal and 700 new staff which he said would help with the firm's "ambitious growth plans across Europe".
TDS employs 720 people and turned over €93m in 2005 - the vast majority of it in Germany. It has a market cap of just over €29m. It specialises in consulting and human resources services for medium-sized firms in Austria, Germany, and Switzerland.
TDS is also known for selling an HR and accounting package for charities, church groups, and not-for-profits.
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