European Operational Changes for META Group

IT research and consulting firm the META Group Inc has just announced the acquisition of majority ownership in its German arm, the META Group AG. The move brings with it the exclusive distribution rights for Spain, Portugal, Switzerland, Germany, Austria, and Central, Southern, and Eastern Europe.

Under the acquisition agreement, the META Group overall has taken on an additional 42% of the German operations. According to the current German MD Luis Praxmarer, the move should allow ongoing customisation of advisory and consulting services to specific European markets. 'The quality of META Group services continues to resonate with leading IT organisations within Germany and across Europe. This acquisition is a logical next-step in delivering META Group's full suite of IT research, advisory, and consulting services to these leading organisations. We are excited about fortifying our ability to consistently provide these services.'

As a result of these changes, META Group, Inc. will now also have direct control of distribution in two of Europe's largest economies. Dale Kutnick, META Group CEO and Co-Research Director added, 'These changes will enable us to more efficiently manage our global operations and client relationships in Europe. By consolidating our operations in a world-class technology environment like Munich and building from our strong presence in the German market, we believe we are well-poised for growth when the economic situation improves.'

The results of META Group AG will be consolidated with META Group, Inc. beginning in the first quarter of 2002, while the results of META Group France S.A. will be consolidated beginning in the 4th quarter of 2001. The company's finance personnel currently anticipate this acquisition to have a breakeven impact on earnings in 2002.

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.