12.09.2007 | USA
S&T: IMG Americas Management Buy Out
S&T concentrates on Central and Eastern Europe as well as Asia
12. September 2007. Through a Management Buy Out the local management of the American subsidiary of the IMG Group is taking over the US subsidiary IMG Americas effective immediately. S&T, which had taken over the consulting company IMG including its American subsidiary in Spring 2007, will continue to concentrate on Central and Eastern Europe as well as on Japan and China.
The S&T Group is separating from the US subsidiary of the IMG Group and selling the subsidiary to the local management under the direction of Klaus Schottenhamel, president and CEO of IMG Americas. IMG Americas’ offices in Waltham (MA), New York City (NY), Mendenhall (PA), Westchester (IL), and Mountain View (CA) are staffed with less than 50 employees and will continue to manage US customers of IMG and S&T within the scope of a cooperative contract. Furthermore, the companies will work as strategic partners on existing and future customer projects both in the US and globally. The Management Buy Out will not have a material impact on the results of the S&T Group. Christian Rosner, CEO of the S&T AG: “Our geographical focus will remain on Central and Eastern Europe as well as the Asian market. Japan and China are interesting growth markets for us where we want to focus more on developing the company and where we also see many synergies with our existing business but also already have a critical mass.“
Potential markets in Japan und ChinaS&T’s takeover of The Information Management Group in the spring of 2007 extended S&T’s geographical footprint into the US, Germany and Switzerland, as well as Japan and China where rapidly growing IT-markets are of special interest to S&T. Completion date for the IMG integration is planned for the end of 2007 while detailed development plans are being worked on for Japan and China. “Wherever S&T has a presence we will manage local clients while supporting Japanese and Chinese companies with their expansion into Eastern Europe, and of course European companies with their expansion into Asia,” explained Rosner. In the autumn of 2006, S&T announced a cooperative agreement with NTT Communications Corporation enabling S&T to supervise NTT clients expanding into Central and Eastern Europe and Russia, locally and with high quality.
