Siemens Buys Entex

BOSTON (03/16/2000) - Siemens AG has bought Entex Information Services Inc., a U.S.-based provider of IT services, as part of its plan to strengthen its product-oriented services in the American market.

Siemens will purchase all outstanding common stock of Entex for an aggregate cash purchase price of US$105 million, less certain deductions, according to a statement from EntexRye, New York-based Entex is a platform- and manufacturer-neutral provider of IT services whose 5,000 employees generate nearly US$500 million in sales, according to a statement from Siemens. Entex will be merged with Siemens IT Service GmbH & Co.'s U.S.-based unit, and the companies will be known as Entex IT Service, a Siemens company, the statement said. Siemens IT Service USA is based in San Jose, California and has approximately 150 employees, it said.

John McKenna, chief executive officer of Entex, is slated to serve the new company in that same capacity, the statement said.

Siemens AG, in Munich and Berlin, can be reached at +49-89-636-00 or at http://www.siemens.de/.

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