Dutch telephone company KPN has finalised its takeover of IT service provider Getronics, the AD newspaper reports on Tuesday.
The new CEO is Erik van der Meijden, who joins Getronics from computer manufacturer Hewlett-Packard.
KPN will retain the name Getronics because of brand value, the paper says. It will however remove Getronics from the Amsterdam and Luxemburg stock exchange listings as soon as possible.
KPN reported last week that it had acquired 89.5% of Getronics’ shares. Shareholders will receive €6.25 per share. Those who have not yet offered their shares have until November 6 to do so.
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