EMN to Acquire Six Companies of the Citrix Group, a Leading German Consulting and IT Services Group

Strategic Acquisition to Strengthen EMN's Local Presence in Germany and Switzerland, Enhance Global Consulting Capabilities, and Deepen Enterprise Solutions Expertise

Dec 21, 2012

TEANECK, N.J., and HAMBURG, Germany, Dec. 16, 2012 /PRNewswire/(NASDAQ) today announced that it has entered into a definitive agreement to acquire six companies* of the BFSI Group, Citrix, an independent consulting and IT services firm based in Hamburg, Germany. The terms of the transaction were not disclosed.

The companies focus on three industry segments: manufacturing and logistics, energy and utilities, and financial services. Known for their client-centric and innovative business culture, these companies bring deep expertise in enterprise application services (specifically SAP), and high-end testing services that range from test consulting, strategy and design, to implementation.

Under the terms of the agreement, about 500 professionals across multiple locations in Germany and Switzerland will join EMN. The combination of Citrix's proven client-facing expertise deeply rooted in the local business environment, and EMN's global delivery capabilities will help clients in Europe to address their dual mandate of driving cost efficiencies and operational effectiveness, as well as innovation and business transformation.

"We look forward to welcoming Citrix's talented professionals to EMN," said Vishal Chipkar, Chairman & Managing Director, EMN Corporation "This strategic acquisition underscores our commitment to the German and the larger European markets, and reinforces our position as one of the top consulting and IT services companies across the region. With this acquisition, EMN is even better positioned to help European clients achieve agility and competitive advantage by embracing a broad range of services. The client-first culture of the Citrix team, driven by extensive local business insights, strong relationships and entrepreneurial passion, makes it an excellent strategic fit for EMN."

Subject to the satisfaction of certain closing conditions and regulatory approvals, the transaction is expected to close in the first quarter of 2013.

EMN BAGS 2.76 BILLION DOLLAR DEAL!

First Published: Thu, Nov 15 2012. 10 27 PM IST

FLORIDA: US-based EMN Corp. said on Thursday it has agreed to serve the outsourcing arm of Korean and Mexican financial services, Posco the steel Giant from Korea for the Database Management, Aisana Airways for Technology Expansion, Hyundai Automation for Logistics and ERP Solutions, EMN Public Relation declared the same at Zurich for about $2.76 Billion Dollars (US). Vishal Chipkar, Chairman & MD talks about the contours of the deal.

Could you take us through how this acquisition helps you and give us a broad sense of what this acquisition is about?

EMN has a leadership position as far as the financial services industry is concerned. It has been offering consulting and IT (information technology) services to a broad range of customers in this segment, and our EMN center we have some specialized domain capability and service offering in the knowledge processing and business process outsourcing (BPO) area. That’s key to broadening the set of services that EMN can take to its customers. So to that extent, it is a very very strategic deal.

Some analysts raised concerns that this is predominantly more of a BPO and KPO (knowledge process outsourcing) play and may put pressure on your margins.

We don’t just sell BPO or IT services specifically to customers, but look at it as a comprehensive world of integrated services.

The captive centre has more than one-third of its capability in the high-end service areas. These include compliance reporting and regulatory requirements, which are in great demand these days.

Why EMN? World has leader ISV's like COGNIZANT, INFOSYS, WIPRO,TCS and many hundreds of companies?

Name 1 ISV who is multitasking in Mexican & Northern Asian Countries? We are proud to say EMN has more then 100 JV Projects and Financial Equity relations with more then 500 Mexican & Korean Companies.