GEODIS, the main unit of France's SNCF Transport and Logistics Division, the fourth biggest European logistics supplier, has acquired IBM's internal global logistics business for an undisclosed sum, said a Geodis statement.
Pending regulatory approval, Geodis will be the chief logistics provider for IBM, managing EUR1 billion (US$1.4 billion) in IBM's logistics a year, supporting asset recovery services, service parts logistics and flow management of hardware and software worldwide.
"IBM's global logistics operations will significantly upgrade our services portfolio," said Geodis deputy CEO Jean-Louis Demeulenaere.
Said IBM vice president Gary Smith: "Geodis has a passion for this business and they will provide our clients and employees with ongoing investment, innovation and growth."
The transaction is expected to close in first quarter 2009, and it is subject to the expiration or the early termination of the waiting period under the HSR Act and the issuance by the European Commission of a decision declaring the transaction compatible with the EC Common Market as well as compliant with regulatory clearance and local agreements.
SNCF's Transport and Logistics Division has 50,000 employees in 120 countries and an annual revenue of EUR8.5 billion.
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