KPN to bid EUR766 million for IP specialist Getronics

30 Jul 2007

Dutch former monopoly KPN Telecom has revealed it intends to launch a management-backed EUR766 million (USD1.05 billion) buyout offer for IT services firm Getronics NV. In a move that is seen as something of a surprise by local industry watchers, Getronics recently terminated merger discussions with a potential US suitor and opted to explore a partnership with KPN. Although the logic for such a tie-up is unclear, KPN said the move would ‘reinforce the stated ICT strategy of KPN’s business segment and further transform KPN from a communication service provider to an end-to-end provider of ICT services.’

Netherlands, KPN