Financial Daily from THE HINDU group of publications
Thursday, May 30, 2002
Financial Daily from THE HINDU group of publications Thursday, May 30, 2002 |
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Info-Tech
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Software Corporate - Mergers & Acquisitions Wilco Intl buys German firm Our Bureau
HYDERABAD, May 29 WILCO International, a subsidiary of Automatic Data Processing Inc, has acquired German financial software and services provider ISAM GmbH, a Frankfurt-based firm with a subsidiary in Prague. This acquisition further enhances Wilco's and ADP's strategy of providing the strongest institutional and retail securities processing service offering in all major financial markets. Though Wilco has an office in Frankfurt since 1999, this acquisition will also enable Wilco, which has a facility at Hyderabad, to leverage the business opportunities in Frankfurt, which has Germany's largest retail transaction volumes of any European country. The IT Director of Wilco, Mr Donal O' Brien, in a statement said, ``we are extremely proud to welcome these new associates to Wilco International and ADP. The products and expertise of ISAM complements the Wilco portfolio exceptionally well. Wilco is now equipped to provide excellent software solutions for the German domestic and international markets.'' The former owner and Managing Director of ISAM, Mr Andreas Hattass, said, ``I believe that this agreement will allow us to build on the good foundations ISAM has laid in the five years since I founded the company.''
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