By Suzanna Kerridge, 5 October 2000 17:20
NEWS The company will acquire a controlling stake of 50.2 per cent for £67m, with an option to buy the remaining 49.8 per cent for £303m in January 2002. PDV Unternehmensberatung is known in Germany for providing IT services to the finance and communications industries and the public sector. Last year, the company reported profits of £72.5m and operating profits of £10m. Dr Martin Read, managing director and chief executive at Logica, claimed Germany was the largest market for software and IT services and that the deal will boost Logica's workforce in Germany from 100 to 1,300. PDV will operate under its own branding until the end of the month when it will assume the Logica banner. Logica's ambitions extend beyond Germany. It is negotiating a £38m buyout of Australian IT services MITS and another of a European company that it refused to name.
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