IT service provider continues to expand
EWE Stocks Up Its Stake in BTC to 100 Per Cent
Oldenburg, July 14, 2006. The energy service provider EWE AG in Oldenburg is to stock up its stake in the BTC Business Technology Consulting AG to 100 per cent. At the moment EWE holds 84 per cent of the shares in the Oldenburg-based IT consulting company, 16 per cent are held by minority shareholders. 15.9 per cent of the shares available for purchase are to pass into EWE possession on July 31, 2006, the remaining shares are to change ownership in January 2007. The contractual partners have agreed not to reveal the purchase price.
“BTC has carved out a superb position for itself in the past few years in the highly competitive market of IT consultancy”, said EWE’s Chief Operating Officer, Heiko Harms explaining the decision. The contribution of the company subsidiary to the total result had constantly increased. The complete acquisition of the shares guarantee faster decision-making routes and thus greater flexibility in order to continue to act successfully on the market.
Bülent Uzuner, Chairman of the Board of Management of BTC AG, also welcomed the purchase. He spoke of a win-win situation for all those involved: “The partnership with EWE has shown that we can both grow strategically together. This is all the more true now.” The aim was to establish innovative products both in the traditional as well as new markets and to expand the customer base.
BTC currently has 15 branches in Germany, Poland, Switzerland and Turkey. BTC is one of the 26 largest IT consultancy companies in Germany and provides services in the sector of IT consultancy, system integration and management, geoinformation systems and network control technologies. Its customers principally include energy, industrial and service companies, telecommunications providers, public administrations as well as automotive manufacturers and suppliers.
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