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Paris, 4 March 2010

GFI Informatique announces the sale of
its operating companies in Germany to Vision IT Group

 

GFI Informatique today finalised the sale to Vision IT Group of GFI Informatik
and its subsidiaries in Germany.

 

The scope of the disposal represents 2009 revenue of €22 million for break-even at operating level and a net loss of €0.3 million. The 110 employees involved (excluding subcontractors) are based in some 10 offices in Germany.


Terms of the transaction

The value of the transaction amounts to €5.2 million for the shares, the current account and net cash. In application of IFRS 5, this business will be recorded in our financial statements as at 31 December 2009 as an asset to be sold and the loss of €9.0 million will be recognised in our accounts on the same date.

When signing the agreement, Vincent Rouaix, the Chairman and Chief Executive Officer of GFI, said: “I am satisfied with this deal that marks a first step in the refocusing we announced in our strategic plan of last July. This transaction with Vision IT Group makes it possible to ensure the future development of GFI Informatik in Germany”.

About GFI Informatique


GFI is a major player in the IT services sector in Southern Europe with five strategic offerings: Consulting, Applications Services, Enterprise Solutions, Infrastructures Services and Software. The sector-based organisation being implemented focuses chiefly on five areas: Banking-Insurance, Telecom-Media, Public Sector, Transport-Services-Industry-Retail and Utilities-Energy-Chemicals. As part of its industrialisation policy, the Group has 11 skills centres, two national design and production service centres, and three offshore centres. GFI recorded 2009 revenue of €726.4m with a workforce of 9,800.

 

GFI Informatique is listed on the Euronext Paris, NYSE Euronext (Compartment C)
ISIN code: FR0004038099.

Press relations: Martine Canaque – Tel.: 33 (0)1 53 93 43 80 - mcanaque@gfi.fr
Investor relations: Cyril Malher - Tel.: 33 (0)1 53 93 44 25 - cmalher@gfi.fr

 

 
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