Amsterdam IT services company Getronics NV sold its U.S. Government Solutions subsidiary to DigitalNet Inc. for 224 million euros (CDN$350 million), it announced Monday.
Getronics Government Solutions, in Washington, employs 2,300 people and provides desktop and network management services exclusively to the U.S. federal government, Getronics said in a statement. The unit reported revenue of 380 million euros in 2001, the company said.
The sale won’t affect Getronics’ nonfederal U.S. customers because the unit servicing the federal government is an independent company. Other customers are serviced by Getronics’ U.S. commercial operations, a unit that employs 4,000 people with headquarters in Billerica, Massachusetts, Getronics said.
Buyer DigitalNet of Bethesda, Maryland, is privately held and provides wireless integration services to businesses. The company is backed by GTCR, a private equity firm that manages more than $4 billion in capital with investments in many sectors, according to the GTCR Web site.
The 224 million euro deal is part stock and part cash and subject to regulatory approval as well as other conditions. Getronics expects the transaction to close during the fourth quarter of 2002.