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OpenGate Capital Completes Acquisition of Getronics LATAM from KPN

2 May 2012

(OpenGate) May 2, 2012 – OpenGate Capital, LLC, a private investment and acquisition firm, announced today it has completed the acquisition of Getronics LATAM, Getronics International’s portfolio of Latin American businesses, from KPN, a leading telecommunications and ICT provider in the Netherlands. Terms of the transaction were not disclosed.

Getronics LATAM employs more than 2,000 professionals and generates $150+ million in revenues through its operations in Brazil, Mexico and Colombia. The businesses offer a complete portfolio of integrated ICT services for the large enterprise market including workspace management services, connectivity, data centers and consultancy services. Getronics LATAM is highly specialized and maintains certifications with Cisco, Microsoft, Dell and ITL, serving national and international blue chip clients. The Getronics LATAM businesses will continue to operate under the Getronics brand name until a rebranding effort is completed later in the year.

Mr. Andrew Nikou, OpenGate Capital’s founder, Managing Partner and CEO stated, “The acquisition of Getronics LATAM represents a tremendous opportunity for us. Not only is Getronics LATAM complementary to Sopho, our other South American portfolio company, it also enables us to expand our presence in three dynamic markets; Brazil, Mexico and Colombia. We’re building our track record among strategic sellers divesting cross border, multi-cultural assets. This acquisition demonstrates our ability to acquire a business no matter what the industry or location, and create value by stimulating growth at the operational level and motivating employees to succeed.”

OpenGate Capital announced earlier this year that it had signed an agreement to acquire the businesses and, just 90 days later, has completed the transaction and developed a full transition and operation plan. Julien Lagrèze, a Partner at OpenGate Capital responsible for overseeing the transaction stated, “We have developed near and long-term strategies to optimize the efficiencies of the businesses, centralize key systems, and unleash the enthusiasm and energy of the employees so that they can create new value.”

The acquisition of Getronics LATAM represents OpenGate Capital’s third acquisition in the past six months, and represents the firm’s third telecommunications business in its portfolio of wholly owned companies.

About OpenGate Capital, LLC
OpenGate Capital, LLC is a global private investment firm specializing in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California and maintains offices in Paris, France and Sao Paulo, Brazil. OpenGate’s seasoned team of mergers, acquisitions and operating professionals possess the critical skills needed to acquire, transition, operate and build successful businesses. To date, OpenGate Capital has executed 20 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments. The OpenGate portfolio of wholly owned businesses generates $2 billion in revenue and includes businesses from a wide range of industries and geographic markets. For more information, please visit .

About KPN
KPN is the leading telecommunications and ICT service provider in the Netherlands, offering wireline and wireless telephony, internet and TV to consumers and end-to-end telecom and ICT services to business customers. In Germany and Belgium, KPN pursues a Challenger strategy in its wireless operations and holds the number three market positions through E-Plus and BASE. KPN provides wholesale network services to third parties and operates an efficient IP-based infrastructure with global scale in international wholesale through iBasis.

At December 31st, 2011, KPN served over 44.9 million customers, of which 36.6 million were in wireless services, 4.1 million in wireline voice, 2.8 million in broadband Internet and 1.4 million in TV. With 18,687 FTEs in the Netherlands (31,084 FTEs for the whole group), KPN reported full-year revenues of EUR 13.2bn and an EBITDA of EUR 5.1bn in 2011. KPN was incorporated in 1989 and is listed on the Amsterdam Stock Exchange.