October 07, 2008, 9:50 AM — Bull is acquiring German high-performance computing company science + computing, and at the same time selling its Medicaid solutions business, it announced on Tuesday. The deals continue Bull's transformation into a high-end server company.
The acquisition of science + computing is one of the most important investments Bull has made since 2005, when it started its push into high-performance computing, according to Didier Lamouche, chairman and CEO of Bull, who was also hired in 2005.
With the help of science + computing's employees, Bull hopes to become the European leader in the high-performance computing space. Science + computing has an especially strong presence in the automotive and aeronautical sectors. Its customers include Audi, BMW, Bosch, Daimler and Porsche, according to Bull.
The German company had revenues of â‚¬26 million during its last fiscal year, which ended in June, and will maintain its operational independence after the deal is done. It has 270 employees.
Bull is selling its Medicaid solutions business to Ingenix. The business is a niche for Bull, and Ingenix, as a large U.S. enterprise, is much better positioned to further grow this business, according to Lamouche.
Bull didn't disclose the financial details of either deal, but expects to complete the transactions by year-end.
Besides servers, Bull will in the future concentrate on outsourcing services, IT security and postal automation solutions, in the U.S.