GFT Technologies SE

euro adhoc: GFT Technologies AG
Mergers - Acquisitions - Takeovers / GFT Technologies AG takes over Indian software company eQuadriga Software Private Limited (E)

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GFT Technologies AG announces the 100 % take-over of the software company eQuadriga Software Private Limited (eQuadriga) based in the southern Indian city of Trichy today. The company employs 68 highly qualified staff members with expertise especially in the field of modern Internet technologies and extends the onsite/nearshore concept of the GFT Group to enable offshore production. eQuadriga will operate as GFT India in future and work in close collaboration with the group’s European production units in the field of offshore application development and implementation. The actual project management and the solution competence will remain located close to the client.

Aside from the labor costs and expertise in software development GFT benefits from the technical competence of the Indian colleagues in the field of e-Learning. In the past three years eQuadriga has programmed e-Learning products for the Klett Group. Within the scope of the partnership between GFT and Klett the offshore center in Trichy will ensure the further development of these products.

Furthermore the Indian software specialists will take over the technological restructuring of two GFT software solutions. Further application development projects are set to follow next year.

The underlying financial terms of the transaction are confidential.

end of announcement            euro adhoc 29.10.2003
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Further inquiry note: Contact: Kerstin Versemann, Manager Investor Relations, GFT Technologies AG, Düsseldorfer Str. 13, D-65760 Eschborn, T: +49-6196-969-2634, F: +49-6196-969-1002, M: +49-173-702 44 10, kerstin.versemann@gft.com

Branche: Software
ISIN:      DE0005800601
WKN:        580060
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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