adesso SE

Regulatory Filings • Mar 19, 2021

News Details

Ad-hoc | 19 March 2021 14:28

adesso SE sells subsidiary e-Spirit AG to Crownpeak Technology Inc. / Strategic business focus as an industry-specific IT service provider and product provider

adesso SE / Key word(s): Disposal/Contract

adesso SE sells subsidiary e-Spirit AG to Crownpeak Technology Inc. / Strategic business focus as an industry-specific IT service provider and product provider

19-March-2021 / 14:28 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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adesso SE sells subsidiary e-Spirit AG to Crownpeak Technology Inc. / Strategic business focus as an industry-specific IT service provider and product provider

Today, with approval of the Supervisory Board, the executive board of adesso SE has signed a contract with the US company Crownpeak Technology Inc. on the sale of the 100 % subsidiary e-Spirit AG, which until now has developed and sold the Content Management System (CMS) FirstSpirit within the adesso Group. Through the transaction, Crownpeak Technology Inc. is acquiring not only the company with its international subsidiaries but also the rights to the source code of the FirstSpirit product, which has also been internationally renowned for many years.

With over 150 employees the e-Spirit Group achieves sales of around EUR 17 million. The purchase price was agreed in the amount of approximately USD 30 million. The company valuation was not carried out as an earnings multiple due to the recent investment expenses as well as the switch from a classic license to a SaaS sales model (Software as a Service). While this temporarily led to a negative result, valuation was based on the future estimated earnings potential.

Current contracts with adesso for implementation projects, maintenance and other services in connection with FirstSpirit will be continued by adesso. adesso will also continue to be available as a premier partner of Crownpeak in relation to FirstSpirit customers.

Contact:

Martin Möllmann

Manager Investor Relations

Tel.: +49 231 7000-7000

E-Mail: ir@adesso.de

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Information and Explanation of the Issuer to this News:

Further explanations:

With the transaction, adesso SE continues to focus on its core business with industry-specific IT services and products. The long-standing subsidiary, which develops a product that is in demand regardless of the sector and is not regionally limited, will also be given new business opportunities and development prospects as part of the transaction. Crownpeak is a provider of a complete solution for digital experience management with over 200 corporate customers and one of the first providers of cloud-based rental software models. Through market access in the EMEA region and e-Spirit’s technological expertise, as well as through the integration of the most recently completely modernized product, Crownpeak is expanding its own market position nationally and internationally.

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19-March-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.dgap.de

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Language:	English
Company:	adesso SE
	Adessoplatz 1
	44269 Dortmund
	Germany
Phone:	+49 231 7000-7000
Fax:	+49 231 7000-1000
E-mail:	ir@adesso.de
Internet:	www.adesso-group.de
ISIN:	DE000A0Z23Q5
WKN:	A0Z23Q
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; London
EQS News ID:	1176905

End of Announcement	DGAP News Service