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January 22, 1989

SIEMENS BIDS $55m TO TAKE STAKE IN IN2 TO 65%…

By CBR Staff Writer

Paris-based Pick-popper Intertechnique Informatique SA, IN2 is set to become the centre of excellence for Pick in Siemens, according to IN2 UK managing director Jim Bush. Following Bull SA’s waiving of its first refusal on the company (CI No 1,093), West German giant Siemens AG has gone ahead and bought half of Intertechnique SA’s 70% holding in IN2 for $55m. Siemens, which paid 315 French francs for each of the one million shares, is to offer the same price for the remaining 30% in public ownership. IN2 will sell Siemens’ kit in France, whilst Siemens will do the same for IN2 systems in West Germany. The firm is to retain its autonomy and will press ahead with its own hardware development.

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