3i has sold dtms, a German telemarketing company, to D+S Europe. The financial details of the transaction were undisclosed. 3i first invested in 1998 and did so again in 2002, 2003 and 2004, investing a total of E70m. During this time dtms has become the largest independent provider of telephone service numbers in Germany. In 2004 it generated gross revenues of E200m.
The business intended to float on the Frankfurt Stock Exchange in 2000, but due to the sharp downturn in market conditions which hit the telecoms sector particularly hard, the IPO was cancelled.
dtms provides free phone, shared cost, premium rate and televoting services. D+S Europe is a German call centre group. Revenues for 2006 are now expected to reach E330m with an EBITDA of E18.5m.
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