By Arno Schuetze
HANOVER, Germany, March 4 (Reuters) - German IT consultancy IDS Scheer is considering making acquisitions as the global market crisis has led to lower prices for companies, its chief executive said on Wednesday.
'We're examining some options at the moment,' Peter Gerard said at the CeBIT technology fair, adding that takeover prices were currently at a reasonable level.
Gerard added that, due to the company's 113 million euros in cash as well as its equity ratio of 60 percent, IDS Scheer could make acquisitions of more than 200 million euros without having to raise additional capital.
However, Gerard also said that IDS Scheer itself is seen as a takeover target by external parties.
'We receive indications of interest from investment banks and other technology companies,' Gerard said.
'But this is not an issue.'
IDS Scheer is majority owned by founder August-Wilhelm Scheer, who holds 41 percent in the company and chairs its supervisory board.
Along with vice chairman Alexander Pocsay -- who holds 7 percent -- Scheer has no interest in selling the company, but has in the past said that a sale would 'not be an unrealistic development' if a restructuring programme fails to boost profitability.
Gerard added that the company is well on track to meet its 2008 targets.
The company expects sales of 370-390 million euros in 2009, down from 399 million in 2008, mainly due to the global market crisis.
(Writing by Christoph Steitz; Editing by David Cowell) Keywords: CEBIT IDSSCHEER/CEO (christoph.steitz@thomsonreuters.com; +49 69 7565 1269; Reuters Messaging: christoph.steitz.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
HANOVER, Germany, March 4 (Reuters) - German IT consultancy IDS Scheer is considering making acquisitions as the global market crisis has led to lower prices for companies, its chief executive said on Wednesday.
'We're examining some options at the moment,' Peter Gerard said at the CeBIT technology fair, adding that takeover prices were currently at a reasonable level.
Gerard added that, due to the company's 113 million euros in cash as well as its equity ratio of 60 percent, IDS Scheer could make acquisitions of more than 200 million euros without having to raise additional capital.
However, Gerard also said that IDS Scheer itself is seen as a takeover target by external parties.
'We receive indications of interest from investment banks and other technology companies,' Gerard said.
'But this is not an issue.'
IDS Scheer is majority owned by founder August-Wilhelm Scheer, who holds 41 percent in the company and chairs its supervisory board.
Along with vice chairman Alexander Pocsay -- who holds 7 percent -- Scheer has no interest in selling the company, but has in the past said that a sale would 'not be an unrealistic development' if a restructuring programme fails to boost profitability.
Gerard added that the company is well on track to meet its 2008 targets.
The company expects sales of 370-390 million euros in 2009, down from 399 million in 2008, mainly due to the global market crisis.
(Writing by Christoph Steitz; Editing by David Cowell) Keywords: CEBIT IDSSCHEER/CEO (christoph.steitz@thomsonreuters.com; +49 69 7565 1269; Reuters Messaging: christoph.steitz.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.