RealTime IT News

Predictive Restructures European Operations

Predictive Systems , a New York-based network infrastructure and security consultant, is closing its offices in Germany as part of a European restructuring.

Work previous done by the group will be shifted to Predictive Systems' offices in the United Kingdom and the Netherlands.

"Predictive Systems continues to take steps to streamline operations, reduce expenses, and enhance services," CEO Andrew Zimmerman said in a statement." These positive events are all important milestones on our path to profitability."

As part of the move out of Germany, the company's subsidiary there, Predictive Systems A.G., has filed for bankruptcy.

The company said it still expects to hit its fourth quarter numbers, even taking into account the costs associated with discontinuing the German operations.

Predictive Systems was founded in 1995 and expanded into Europe in 1998. The company serves Fortune 500 firms that are planning and implementing large IT projects and want to be sure their investments pay off in improved efficiency and security.

During the company's last quarterly update, Zimmerman said approximately two-thirds of the work in the company's pipeline relates to security-related services. Many of the projects require both networking and security expertise.