4Front Technologies Inc, the London-based computer services outfit, has agreed to purchase I-NEA SA, the French on-site service and maintenance unit of Siemens AG. Under terms of the agreement, 4Front will hand over $4.1m for the unit, which has 200 employees in 10 locations throughout France. In what seems like a bargain for 4Front, the company estimates that I-NEA will contribute at least $40m in revenues in the first 12 months after the closing of the deal – expected in January – and will be accretive to earnings in calendar 1999. As part of the acquisition, Siemens and 4Front will also enter into a regional agreement in which the two say they will work together to maintain the existing client-base, as well as develop new services and attract new clients. 4Front says the deal comes in line with its goal of becoming a premiere pan-European computer services provider and now gives it a total of 375 employees in France.
