Milan, 30th April 2013 - Engineering, leader in the Italian IT Software and Services market, and T-Systems International GMBH announced today that the transaction by which Engineering would acquire 1 million shares, representing 100% of the issued share capital of T-Systems Italia S.p.A., has been finally approved and executed.

Being the conditions precedent satisfied, both Parties have agreed to close the transaction with the following resolutions:

• Before the transfer of the 100% of shares, T-Systems International provided T-Systems Italia with a capital injection aimed at covering all losses carried forward and all financial and intercompany debts.

• In addition, T-Systems International made a capital increase of over € 41 million to the benefit of T-Systems Italia; 

• The Company name changes from T-Systems Italia to Engineering.mo;

• Mr Michele Cinaglia, Mr Paolo Pandozy and Mr Armando Iorio have been appointed members of the Board of Directors of Engineering.mo. 

The deal contributes to generate additional Revenues for Engineering Group around € 45 million on annual basis with 260 new employees.

Engineering.mo is expected to reach margins in line with the average of the Group by the end of 2014.

About Engineering

Engineering is the major Italian Information Technology Group and a leading IT multinational in Italy, Europe and Latin America. In 2012 revenues reached € 770 million, of which near 12% came from the international market and EBITDA € 96.1 million. The company now employs more than 7,000 professionals and boasts a customer portfolio of over 1,700 firms, with operations in 37 sites in Italy and 6 abroad.

System Integrator, Solution and Outsourcing provider, Engineering have gained comprehensive insight into each business and crafted solid relationships with customers. This knowledge, coupled with latest-generation technology, allows the Company to provide its clients with an offer that is both complete and of value.

About T-Systems

Drawing on a global infrastructure of data centers and networks, T-Systems operates information and communication technology (ICT) systems for multinational corporations and public sector institutions. T-Systems provides integrated solutions for the networked future of business and society. The company's some 48,200 employees combine industry expertise and ICT innovations to add significant value to customers' core business all over the world.

T-Systems generated revenue of around € 10 billion in the 2012 financial year.

T-Systems in Italy

Thanks to a deep knowledge of business processes in a variety of market segments T-Systems Italy provides state-of-the-art technology. This commitment is based on an offer proposition of integrated ICT utilities services and the management of business processes for its customers. T-Systems expertise and know-how represent a real added value for the enterprise business.

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