El Segundo, California-based Computer Sciences Corp is proposing to expand in a big way in Germany by buying a majority interest in computer services company Ploenzke AG, subject to German government approval. The price to be paid for the $170m-a-year company was not disclosed. Ploenzke has 19 offices in Germany, where it estimates 80% of its revenues are generated, and also has subsidiaries in Switzerland, Austria, Spain and the Netherlands which Computer Sciences will acquire as part of the agreement. In accounting for the business, Computer Sciences says it will book all revenues generated from Ploenzke AG, while the firm’s net profit will be recognised in proportion to its – as yet undisclosed – equity ownership. Klaus Ploenzke will continue to head the company, and he will also oversee Computer Sciences’ other businesses in Germany.
