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News of March 21, 2000
| DaimlerChrysler's Subsidiary debis
Systemhaus and Deutsche Telekom Combine IT Activities . |
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| STUTTGART, Germany - DaimlerChrysler's subsidiary debis and Deutsche Telekom will combine their information technology activities in a joint venture. As part of the agreement, Deutsche Telekom will acquire a 50.1-percent interest in debis Systemhaus by means of a capital increase. |
Jürgen E. Schrempp Photo: DaimlerChrysler |
| This move will provide debis Systemhaus with a
strong partner who plans to further intensify IT activities as a strategic business
division. The agreement between DaimlerChrysler and Deutsche Telekom calls for debis
Systemhaus to continue all its operations, and improve its competitive position in the
fast-growing IT services sector through additional investment. The partners agreed not to
release further details of the joint venture contract. The agreement is subject to
approval of the DaimlerChrysler Supervisory Board. "With Deutsche Telekom, we have found a partner who will further expand debis Systemhaus as one of its core businesses," said DaimlerChrysler Chairman Juergen E. Schrempp. "Our current telematics joint venture, Tegaron, already provides an excellent basis for combining our telematics operations. Our main concerns during the negotiations were the future prospects for debis Systemhaus and its employees. Through the strategic partnership between DaimlerChrysler and Deutsche Telekom, we have assured value growth, particularly in the interest of our shareholders. "debis welcomes this joint venture because it will help improve debis Systemhaus' market position even further," said debis Chairman Dr. Klaus Mangold. Commenting on the strategic focus of his company, he added, "In the future, debis will strongly expand DaimlerChrysler's international financial service activities and also strengthen the area of mobility services. The company will also play a key role in expanding DaimlerChrysler's activities throughout the entire value chain of the automotive business." Over the next few years, DaimlerChrysler will continue to be a primary customer for debis Systemhaus' information technology products and services. debis Systemhaus generated 25-percent of its revenues through business with DaimlerChrysler in 1999. In recent years, it has also expanded business and external customers in Germany and abroad. (March 27, 2000) |
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