1 - 15 August, 2003

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S&T Takes Over Fujitsu Services in 7 Countries

S&T AG announced it has bought the Fujitsu Services in 7 countries: the Czech Republic, Greece, Hungary, Malta, Poland, Romania and Slovakia. The two companies signed an agreement in order to ensure the provision of high quality IT services for the existing Fujitsu clients in all 7 countries.

The acquisition - the most important in the history of S&T - would significantly strengthen the presence of the company on the Central and East European market, would open new market in Greece and Malta. The organization will consequently grow, including 300 new specialists from Fujitsu Services, leading to an income increase estimated to 30 million Euros for the rest of the year.

Fujitsu Services is, in the Eastern Europe, an IT products and services provider for large international companies, governmental institutions and projects designed to help the European integration. Most of these operations come as a promising completion of the traditional S&T operational range.

In Romania, the transaction terms came into force on July 1st, after the Competition Council signed its approval.

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