Getronics Acquires PinkRoccade for €350 Million

London, 7th March 2005 - Getronics, the global Information and Communications Technology (ICT) services company, today announced that its offer to PinkRoccade shareholders to acquire PinkRoccade for €350 million in cash has become unconditional. This elevates Getronics to the largest European-owned ICT services provider in the world, with a direct presence in 30 countries and combined revenues of €3 billion per annum.

PinkRoccade complements Getronics’ solutions portfolio, strengthening the company in the areas of network and desktop outsourcing services (NDOS), application and integration management in particular, as well as providing Getronics with advanced data centre capability. The combination will leverage Getronics’ position and core competence in the ICT services arena and its ability to offer an end-to-end ICT services solution internationally.

The new Getronics UK & Ireland board of directors brings together the management talent of the two companies with two directors from each company. Stuart Appleton has been appointed Chairman of Getronics in the UK & Ireland and has recently been proposed for appointment to the Board of Management of Getronics N.V., the parent company.

Clive Hyland, previously Chief Executive Officer of PinkRoccade UK, has been appointed Chief Operating Officer (COO) for the UK & Ireland. Joining Stuart Appleton and Clive Hyland will be John Hawker as Chief Financial and Administrative Officer and Mike Pighills as Portfolio and Business Integration Director. The new combined company will retain the Getronics name and branding.

Stuart Appleton, Chairman, Getronics UK & Ireland says: "The acquisition of PinkRoccade represents a considerable strengthening of the market position of Getronics within the UK & Ireland. PinkRoccade brings with it many years of expertise and core business offerings that complement the Getronics portfolio."

He added: "These are exciting times for both PinkRoccade and Getronics employees. Together we have the ability and expertise to be best-of-breed in the ICT services business; with an increased desktop offering, extended data centre capabilities and strengthened solutions portfolio. This agreement represents the coming together of two complementary businesses with high-quality, loyal and satisfied clients."

The two businesses share a financial services and retail market focus with clients that include Alliance & Leicester and Clarks, as well as shared customers such as Barclays. Says Clive Hyland, Getronics UK & Ireland’s new COO: "The agreement represents a natural fit and we are pleased to be joining a business that shares our goals and vision - to be world leader in the ICT services marketplace. This partnership secures our strategy and objectives and we are now stronger and very optimistic about the future."

In the UK, Getronics doubles in size. Globally, Getronics becomes the largest European owned ICT services business in the world. The company now has 29,000 employees, 2,000 of which are based in the UK and Ireland.

Getronics’ 2004 results, released on the 3rd March, show an €87 million increase in EBITA to €68 million (2003: €19 million), with Q4 2004 showing an EBITA increase of 32%, outlining the company’s strong revenue growth in the final quarter of the year. Getronics’ overall total net profit for 2004 was €32 million. Key operational achievements over the year included the successful launch of a global solutions portfolio, the growth in international accounts and new strategic contracts. In addition, Getronics opened its new network and security operating centre in Brussels and a global services centre in Budapest.

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