Frankfurt, Germany-based T-Systems will pay an undisclosed sum to acquire Zeda. It will take over information processing and operate the data centers, networks, applications and helpdesk services for Vorwerk. Although specific details about the takeover were not disclosed, Zeda itself employs some 200 people and made revenue of $31.6 million (E28 million) in 2002. T-Systems said the contract is valued at hundreds of millions of euros. Zeda also provides specialist services in developing banking applications as well as working in partnership with SAP firms.
The deal is the third major project T-Systems has signed in recent months, and adds to a five-year $221 million (E200 million) outsourcing contract with WestLB bank where it is taking over the 200 staff working within its IT and printing departments by November 2003. In August the company signed a $1.4 billion three-year extension with one of its largest clients automaker DaimlerChrysler AG, which will involve the expansion of the deal to include Japanese automotive manufacturer Mitsubishi Motors Corp, in which DaimlerChrysler owns a 37% stake.
This article was based on material originally published by ComputerWire
