Walldorf, December 14, 2010 – On December 14, 2010, REALTECH AG, a full-service company specialized in SAP consulting and a software provider with a focus on business process and IT service management has sold its foreign subsidiary "REALTECH Italy" as part of a management buy-out (MBO).
The sale was motivated by REALTECH Italy's poor earnings performance and serves to improve the future earning power of REALTECH AG. The sale of REALTECH Italy will allow the group to refine its focus on those foreign subsidiaries that are expected to make a significant contribution to the group's continued growth. This includes those countries where an excellent market position has allowed REALTECH to successfully position its consulting services as well as those countries that are crucial to the company's product growth strategy. The companies have agreed to keep the financial details of the sale confidential.
The former REALTECH subsidiary will continue to use its old name. Both companies have signed long-term contracts that govern their international dealings. As part of the MBO, REALTECH AG and REALTECH Italy have entered a trademark license and cooperation agreement. This agreement governs their future cooperation and makes sure that worldwide contractual obligations with customers and partners are implemented and met to the fullest extent. This includes contracts with international corporations and the honoring of existing and future contracts and agreements between REALTECH, its customers, and partners.
REALTECH Italy will continue to act as a sales and consulting partner of REALTECH AG.
More information on: http://www.realtech.com
