GE Capital Fills Euro Hole with Portuguese Buy

US giant GE Capital IT Solutions has plugged a gap in its European coverage after its acquisition of a leading Portuguese dealership.

GE Capital will fold CPC Si into its wholly owned Portugese subsidiary Ameridata Global Portugesa and change the name of the merged company to GE Capital IT Solutions. The terms of the deal were not disclosed.

Antonio Bernard Ferreira, CPS Si?s former owner, will remain at the reseller where he will share managing director responsibilities with Jose Salgado Braz, former managing director of Ameridata.

The enlarged group will be Portugal?s second biggest reseller, with annual sales of more than $25 million. The subsidiary operates out of Lisbon and Oporto, Portugal?s two major markets, and its customers are drawn from financial and government sectors.

A representative for GE Capital said: ?There is also drop-in business from international customers. It is one of the many advantages of being part of a global business.?

This year, GE Capital IT Solutions is targeting major acquisitions in France, Italy, Benelux, and the UK. The company is one of the world?s biggest resellers with $5 billion annual sales. It is number three in Europe, behind the UK?s Computacenter and Dutch-owned Info Products.

The vast bulk of GE Capital?s $1 billion turnover comes from German operations, formed through last year?s purchase of Compunet, the country?s biggest reseller.