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QSC sells off FTAPI Software, announces write-downs

Wednesday 21 December 2016 | 11:27 CET | News
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German IT and data services provider QSC has sold its subsidiary FTAPI Software in a management buyout as part of a larger cost-cutting programme. In a letter to shareholders, QSC announced that the sale of FTAPI Software to its current management would result in a one-off write-down of EUR 1.5 million. The company also decided to recognise a one-off write-down of EUR 13.9 million on the goodwill and intangible assets in its outsourcing segment. This chiefly results from the takeover of conventional outsourcing provider INFO in 2011, according to the letter.

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Categories: Internet
Companies: QSC
Countries: Germany
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