FDI Japanese investments in EU M&A

itelligence AG acquired by NTT Data

NTT DATA Business Solutions

Largest global SAP reseller and one of the largest SAP solution providers

On 23 October 2007, NTT DATA, NTT DATA Europe and itelligence AG announced a partnership, and NTT DATA announced to intention of an offer to acquire the shares at € 6.20 per share, about 37.2% higher than the closing price as of 22 October 2007.

On 13 November 2007, NTT DATA Europe published an offer to acquire outstanding shares. This offer ended at midnight on 2 January 2008, and NTT DATA Europe acquired 20,974,169 (= 87%) of outstanding shares, corresponding to an acquisition value of € 130 million, and a total company valuation of € 149.5 million.

On 29 January 2008, NTT DATA sold 2,459,523 shares to NTT Communications Corporation for € 15 million corresponding to € 6.10 per share, leaving NTT DATA with 18,514,646 shares.

On 20 December 2012, NTT DATA Europe announced that it had acquired an additional 3,831,574 shares (= 12.77%) in another tender offer, and an additional 1,317,605 shares (= 4.39%) outside this offer. As a result, NTT DATA holds a total of 29,544,428 shares (= 98.43%). Following this tender offer, NTT DATA proposed a “squeeze out” (aktienrechtlicher Squeeze-out) under the German Stock Corporation Act to acquire the remaining outstanding shares.

On 23 May 2013, the Annual General Meeting of itelligence AG approved the squeeze-out of remaining minority shareholders at a cash compensation of € 10.80 per share.

itelligence AG was delisted from the Stock Exchange in June 2013.

Thus itelligence AG on 23 May 2013 became a 100% owned subsidiary of NTT DATA Europe GmbH & Co KG, but will continue to operate as an independent group within the NTT DATA Group.

NTT DATA Business Solutions

In 2012 itelligence AG added to co-branding NTT DATA Business Solutions

itelligence AG “We make the most of SAP solutions!”

itelligence AG is a SAP solution provider.

Company history:

  • 1989 Herbert Vogel and Wolfgang Schmidt founded S&P as a management consulting firm focused on introducing SAP. S&P was one of SAP’s first partner companies.
  • 1994 S&P was converted into “SVP GmbH” (Schmidt Vogel & Partner)
  • 1999 SVP GmbH was converted into SVC AG (Schmidt Vogel Consulting) and listed in an IPO
  • On 7 May 2001, the shareholders of SVC AG Schmidt Vogel Consulting agreed in the merger with APCON AG, forming itelligence AG
  • On 23 October 2007, itelligence AG entered into a partnership with NTT DATA
  • On 23 May 2013 itelligence AG became a 100% owned subsidiary of NTT DATA and the shares of itelligence AG were delisted

itelligence AG acquisitions

itelligence AG (and therefore NTT DATA via itelligence) has acquired a number of companies in the SAP solutions field:

  • 2008: acquires shareholding in SAPCON a.s.
  • 2009: ADELANTE SAS: On 19 March 2010 intelligence acquired 51% of ADELANTE SAS.
  • 2009: Chelford SAP Solutions: on 6 August 2010, itelligence AG acquired 100% of Chelford SAP Solutions
  • 2009: acquires RPF Consulting LLC
  • 2009: acquires participation in 2B Interactive
  • 2010: 2C Change A/S: on 14 June 2011, itelligence AG acquired 60% of 2C change A/S and an option to acquire the remaining 40%
  • 2011: acquired 100% of CONTEMPORARY plc
  • 2011: acquired Blueprint Management Systems
  • 2012: acquired 60% of interest in Elsys
  • 2013: on 1 Nov 2013 acquired 100% of Aster Group
  • 2013: itelligence AG acquired the SAP consulting, licensing and maintenance businesses from Software AG
  • 2014: on 1 October 2014 acquired Symphony Management Consulting

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FDI Japanese investments in EU M&A

Value Team SpA acquired by NTT Data

NTT Data’s a bridgehead to Brazil and South America

Value Team SpA serves about 300 clients with about 3000 professionals

On April 25, 2011, NTT Data announced the acquisition of 100% of shares of Value Team SpA via the subsidiary NTT Data Europe GmbH & Co KG for about € 250 million.

Value Team SpA

Founded in 2004 as part of Value Partners to offer business oriented IT services, and grew via acquisitions in Brazil and in Italy.

In 2010, with about 3000 professionals served about 300 clients in the telecommunications, financial services and manufacturing sectors, and achieved € 308 million in revenues.

NTT Data

NTT Data, a subsidiary of Japan’s incumbent telecommunications group NTT, has been growing successfully around the globe with a series of acquisitions, including:

Japanese investments in EU

Cirquent becomes subsidiary of NTT DATA

NTT Data and BMW agreed today, that NTT Data will acquire 72.9% of outstanding shares of Cirquent GmbH

NTT Data thus gains BMW as largest customer in Europe

Today, August 1, 2008, NTT Data and BMW agreed, that NTT Data will acquire 72.9% of the outstanding shares of Cirquent GmbH in order to globalize.

Cirquent was part of the BMW Group, and is Germany’s 7th biggest system integrator

Between 1992-2008 Cirquent was part of the BMW Group. Cirquent is No. 7 in the Luenendonk ranking of German system integrators. Among Cirquent customers are BMW, Deutsche Boerse, Muenchner Rueck (reinsurer), and T-Mobile Germany. Cirquent has about 1800 employees and achieved sales of EURO 286 Million in 2007.

Cirquent share ownership ratios after this acquisition:

  • 72.9% NTT Data
  • 25.1% BMW AG
  • 2% Cirquent GmbH employees

After this acquisition, BMW becomes NTT Data’s largest customer in Europe. We consider this acquisition an excellent move by NTT Data, NTT Data acquired Germany’s 7th largest system integrator, including about 1000 highly qualified employees, and at the same time also gained BMW as largest customer in Europe, together with a number of other blue chip customers such as Deutsche Boerse, Muencher Rueck and T-Mobile Germany.

Read more about Japan’s telecom sector in our J-COMM report.

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