Norcrose, Georgia-based Technology Management Services, a General Electric Capital Services Company is buying IT services provider, Ferntree Computer Corporation Limited for an undisclosed sum. A TMS spokesperson told Computergram the company had bought Australia-based Ferntree not because it needed fixing but rather to gain access to Ferntree’s strong position in the Australian IT services market. With annual revenues of $135, Ferntree will keep its corporate name and all 700 employees. It will not be reorganized. The company stands to benefit from TMS’ well established Asia-Pacific customer base. TMS provides IT solutions to businesses in Australia and the Asia-Pacific region. GE Capital Services is a wholly-owned subsidiary of General Electric company.
