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Getronics sells US government services unit

IT services company Getronics has sold its US Government Solutions subsidiary to DigitalNet for €224m (£140.5m), the company announced today.

Getronics Government Solutions employs 2,300 people and provides desktop and network management services exclusively to the US government. The unit reported revenue of €380m in 2001.

The sale will not affect Getronics' non-federal US customers because the unit servicing the government is an independent company. Other customers are serviced by Getronics' US commercial operations, a unit that employs 4,000 people.

DigitalNet is privately held and provides wireless integration services to businesses. The company is backed by GTCR, a private equity firm that manages more than $4bn in capital with investments in many sectors, according to the GTCR Web site.

The €224m deal is part stock and part cash and subject to regulatory approval as well as other conditions. Getronics expects the transaction to close during the fourth quarter of 2002.

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