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TietoEnator has agreed to acquire the entire share capital of S.E.S.A. Software und Systeme AG (S.E.S.A), the leading R&D services provider for the telecom industry in Germany.
There were a call conference for analysts and investors and the call was hosted by Chief Financial Officer Timo Salmela and Senior Vice President Investor Relations and Financial Communication, Päivi Lindqvist.
Indexed call conference Q&A audiocast for Windows Media and Real Media >>
Presentation slides for the call conference >>
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Acquisition of S.E.S.A. Software und Systeme AG | |
| Country | Germany, France, Italy (minority ownership) |
| Business area | Telecom & Media |
| Deal type | Acquisition of shares |
| Ownership | 100% |
| Employees | 480 in Germany, 120 in France and |
| 80 in Italy (Italy not consolidated) | |
| Net sales | app. MEUR 67 in 2004 |
| Effective from | January 2005 (planned) |
| Other | EBITA around 12% in 2004 |
| Purchase price around MEUR 70 to be paid in Q1 2005. | |
| New goodwill around to MEUR 58. | |
| Annual goodwill amortisation close to MEUR 6. | |
| Positive EPS effect from 2005 | |
| Deal announced | 20 Dec 2004 Link to release |
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Acquisition completed 20 Jan 2005. | |
S.E.S.A. Software und Systeme AG financial history
S.E.S.A. has been growing consistently since its establishment in 1990 except for the year 2002, when there was a clear decline due to the telecom downturn. In 2003 again the growth was over 20% and this year the company is expected have net sales of around EUR 67 million. S.E.S.A. made an outsourcing agreement with Alcatel in May 2004 (close to 100 employees), which affects the growth this year.
From 2001 to 2003 the company's profitability suffered from the telecom downturn and related restructuring but then started to recover. For 2004 the EBITA margin is expected to be around 12%.
