In this strategic partnership, Getronics has sold its activities in North America, consisting of the operations in the United States, the operations in Canada and the Global Service Centre in Mexico, to CompuCom for a combination of cash and shares. Getronics will receive a minority equity interest in the combined entity together with Board representation. The combined entity will have pro-forma 2007 revenues of USD 2.1 billion and combined North American headcount of over 11,000 professionals.
CompuCom is a leading IT outsourcing company providing infrastructure management services, application services, systems integration and consulting services. The combined entity will leverage the extensive workspace management capabilities and resources of both the Getronics' North American operations and those of CompuCom. Getronics' global clients will benefit from the expanded scale and presence in the North American market while CompuCom's global clients will benefit from the strategic partnership that will provide access to expanded global capabilities via Getronics' global service delivery coverage.
This strategic partnership is a further implementation of Getronics' stated strategy of February 5th 2008. In major world markets, Getronics is expanding and strengthening its global delivery capabilities for major international clients through its own operations and partnerships. In the Benelux, Getronics continues to strengthen its market leading position in workspace management, data center & hosting services and consulting services.
Banc of America Securities Limited acted as financial advisor to Getronics. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Getronics.