Fujitsu enters German HRO market

Computer Business Review has reported that Fujitsu Services will acquire TDS AG, a German HRO services provider, for €82 million ($108 million).

The move is to expand Fujitsu's presence in the largest EU economy. According to CBR, Fujitsu Services will pay €2.80 ($3.69) a share. General Atlantic LLC owns a 73.8% stake of TDS. General Atlantic had announced plans to sell its stake, and some Indian service suppliers had initially expressed an interest in acquiring the company.

The deal covers TDS' 720 workers in Germany, Austria, and Switzerland.

Neckarsulm, Germany-based TDS generates about 30 percent of sales from HRO services such as payroll accounting and HR software implementation, according to published reports. It entered the HRO market through the acquisition of BFD AG mbH in 2003 and processes more than 580,000 payroll transactions monthly. It claims to be the German market leader in outsourced payroll services.

Source: HRO Europe