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Author: Katharina Grimme
The head of TietoEnator's Germany operations, Jürgen Hatzipantelis, has reportedly said that the company is interested in buying SBS's outsourcing business for the financial services sector and parts of its BPO business. The aim is to accelerate growth in the German market. So far, no talks have taken place. TietoEnator is waiting for SBS to react.
Comment: Only recently, TietoEntator signed a €100m, five-year deal to provide R&D work in the area of transfer TDM switching and migration to next-generation networks for Siemens Communications (see EuroView Daily, 27 March), which has come into effect this month.
From the information available, it is unclear which parts of the business the Finnish company is interested in, and if this comprises only the German activities or, for example, also the UK business. SBS is strong in IT outsourcing for the financial services sector in Germany; however, its BPO business is largely centred on the UK.
But we believe Klaus Kleinfeld should consider this expression of interest, as it offers him the opportunity to sell a well-defined share of the external (i.e. non-captive) operations of the troubled IT subsidiary.
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