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Investor Relations
Allgeier sells part of business to Cancom

03/18/2014

Munich, March 18, 2014 – The Management and Supervisory boards of Allgeier SE (ISIN DE0005086300, WKN 508630) have today decided to sell the Group subsidiary Didas Business Services GmbH, which is headquartered in Langenfeld, Germany, to Cancom SE. Didas’s core business comprises IT services in the system integration area – spanning consulting, design, implementation and through to operation – which generated around EUR 55 million of sales revenues in 2013.

Allgeier and Cancom agreed today on the transaction’s key points by way of a letter of intent. The purchase price, which will lie in a normal market valuation range for the business being sold, will be paid by Cancom SE in shares. The final agreements are expected to be completed and signed within the next few weeks. The transaction will be realised once anti-trust authorities have approved it.

Both parties are convinced that Cancom offers the optimal environment for the future development of the business of Didas Business Services GmbH. At Allgeier, following the decisions to focus business on the areas of Allgeier Experts, Allgeier IT Solutions – with its future focus on the standard business software area – and Allgeier Projects – with its concentration on developing and managing individual software solutions for customers’ business processes – Didas no longer stood at the centre of future development. Both Allgeier and Cancom are open to the idea of future cooperation in the system integration area.