The BBC has announced that, subject to contract, Siemens Business Services has been selected as the Single Preferred Bidder for a new Technology Framework Contract (TFC) for the Corporation, and as the new owner of BBC Technology. This announcement follows a rigorous EU Procurement Process and approval by the BBCs Executive Board. The sale is subject to the approval of the BBC Governors, the Secretary of State for Culture, Media and Sport and clearance by the European Commission under the terms of the EC Merger Regulation. Subject to the necessary approvals, the contract is for 10 years and is worth up to £2bn.
Subject to the necessary approvals, the deal will complete by Autumn 2004 once final contract negotiations are complete.