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BtoB

EDS to buy Systematics for $570 million

Published on .

Frankfurt, Germany-Electronic Data Systems Corp., the No. 2 computer service provider in the U.S., has agreed to buy Systematics AG for $570 million in an effort to double its revenue generated in Germany. EDS will buy 70% of the unprofitable Systematics from company shareholders and offer $29.80 a share for the rest. The deal underscores EDS' focus on Europe and Germany in particular. "Big companies like EDS have been trying to get into the German market for some time now and they can't do it through organic growth alone-they need to make acquisitions," said Markus Golinski, an analyst at Bank Sal. Oppenheim Jr. & Cie.
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