29.10.2003 – 12:10

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

Contact:

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
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Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
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