EQS-News: CANCOM SE
/ Key word(s): Forecast/Takeover
CANCOM SE: CANCOM successfully completes major step in acquisition of KBC Beteiligungs GmbH
Munich, Germany, 25 May 2023 - The Executive Board of CANCOM Group today signed the contribution agreement with the shareholders of KBC Beteiligungs GmbH following the expiry of the cartel reservation, thus taking a major step in the takeover of KBC Beteiligungs GmbH. The transaction is expected to be completed at the beginning of June with the entry of the implementation of the capital increase in kind of the CANCOM Group in the commercial register, which was part of the transaction. Once the transaction has been completed, KBC Beteiligungs GmbH, together with its operating subsidiary K-Businesscom AG and its affiliated companies, which with their 1,650 employees generated total revenues of around € 520 million and EBITDA of € 28 million in the past financial year, will belong to the CANCOM Group. The volume of the cash and share components of the transaction amounts to around € 165 million. Furthermore, existing financial liabilities of K-Businesscom amounting to € 37.5 million will be repaid in the short term as part of the transaction. Part of the transaction is a capital increase against contribution in kind at CANCOM SE with the issue of 3.5 million new no-par value bearer shares to the shareholders of KBC Beteiligungs GmbH by utilising the Authorised Capital I/2018.
The transaction clearly strengthens the market position of both companies in the DACH region. “The outstanding market position and geographical presence and the expertise of K-Businesscom are a perfect fit for CANCOM. Particularly in the areas of portfolio, logistics and customer access, there is potential for synergies and we are gaining many highly specialised experts in the areas of communication, security and digital solutions," says Rüdiger Rath, CEO of the CANCOM Group, summarising key considerations behind the transaction. "The takeover of K-Businesscom is the largest acquisition in CANCOM's history and I look forward to working with our new colleagues in the coming years to further expand CANCOM's position as a leading hybrid IT service provider."
"CANCOM Group and K-Businesscom are two companies whose values, culture, competencies and ambitions are a good match," explains Franz Semmernegg, CEO of K-Businesscom. "The combination of the two companies creates a unique combination of expertise, customer access, partnerships and infrastructures that we will bring together and develop in the coming years to continue to serve our customers as a leading digitalisation partner."
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The CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the management of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, the Company provides an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings.
With more than 4,000 employees, CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland and Belgium. The CANCOM Group is led by Rüdiger Rath (CEO) and Thomas Stark (CFO). The company is headquartered in Munich, Germany. CANCOM generated revenue of around € 1.3 billion in the financial year 2022. Its parent company CANCOM SE is listed in the SDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).
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25.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1642043|
|End of News||EQS News Service|
1642043 25.05.2023 CET/CEST