NTT Data to buy information system unit of BMW

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NTT Data Corp it will acquire a 72.9% stake in Cirquent GmbH, an information system unit of German automaker BMW AG, to expand its business in Europe. The value of the deal has not been disclosed. BMW, which now owns 98% of Munich-based Cirquent, will continue to hold a 25.1% stake in the company after the sale.

Cirquent provides information technology consulting and other IT-related services mainly to large manufacturers, banks and insurance firms. In 2007, the company generated sales of 286 million euros. At the end of last year, Cirquent had some 1,700 employees.

Cirquent earns about a quarter of its sales from business with BMW.