PSI AG
Karsten Pierschke
Head of Communications and Investor Relations
Dircksenstr. 42-44
10178 Berlin
Phone: +49 30 2801-2727
Fax: +49 30 2801-1000
ir@psi.de
PSI sells Government Business
Berlin, 5 July 2007 – The PSI AG, Berlin, has sold their subsidiary European IT Consultancy EITCO GmbH to a German group of investors. EITCO is an IT consulting specialist with a strong focus on government business. With this step, PSI has thus completed the concentration on software products for energy suppliers, production and infrastructure operators. The PSI core product business with control systems for companies and authorities in disaster protection, rescue, fire fighting, police and traffic remains with PSI and will be expanded with acquisitions and partnerships.
EITCO employs 57 persons and is expecting sales of about 6 million euros for 2007. The transaction provides PSI with a book profit. It has been agreed that the contractual conditions will be kept confidential.
PSI AG develops and integrates individual solutions, on the basis of its own software, for the management of energy networks (electricity, gas, oil, water), cross-company production management (steel, mechanical engineering, automotive, logistics) and infrastructure management for telecommunications, transport and safety. PSI was founded in 1969 and currently employs more than 1,000 persons in the group.
