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Nemetschek SE
Regulatory Filings • Dec 17, 2019
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News Details
Ad-hoc | 17 December 2019 20:34
Nemetschek SE strengthens competences and market position in Media & Entertainment division
Nemetschek SE / Key word(s): Mergers & Acquisitions/Merger
Nemetschek SE strengthens competences and market position in Media & Entertainment division
17-Dec-2019 / 20:34 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.
Ad Hoc Report
Nemetschek Group strengthens competences and market position in Media & Entertainment division
– Nemetschek subsidiary Maxon Computer GmbH agrees merger with US company Red Giant LLC
– Fusion results in the creation of the global market leader for digital content creation
Munich, December 17, 2019 – Software provider Nemetschek SE (ISIN 0006452907) today announced that its 100% subsidiary Maxon Computer GmbH and the shareholders of Red Giant LLC have signed a definitive agreement to merge Maxon and Red Giant under the Media & Entertainment division of the Nemetschek Group.
In this transaction, Maxon acquires the US company Red Giant by combining a cash consideration of around EUR 70 million and granting shares in Maxon. After closing, Nemetschek will hold around 85% of the shares and the former Red Giant owners around 15% of the shares in Maxon. Financing is provided by the company’s own cash resources and the taking out of a loan. The transaction is expected to close in January 2020. The fusion results in the creation of the global market leader in software solutions for digital content creation.
Red Giant, based in Portland, USA, is a fast-growing company with a high profitability that is above the Nemetschek Group average. For 2019, the company anticipates revenues of around EUR 21 million.
Nemetschek therefore expects significant growth and technology synergies through better market and customer access and by leveraging the worldwide sales and reseller team. With the joint product portfolio, Maxon will also significantly strengthen its subscription business.
Contact:
Stefanie Zimmermann
VP Investor Relations & Corporate Communication
NEMETSCHEK SE
Konrad-Zuse-Platz 1
81829 Munich
P: +49 89 540459-250
M: +49 175 7211197
17-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Nemetschek SE |
| Konrad-Zuse-Platz 1 | |
| 81829 München | |
| Germany | |
| Phone: | +49 (0)89 540459-0 |
| Fax: | +49 (0)89 540459-444 |
| E-mail: | [email protected] |
| Internet: | www.nemetschek.com |
| ISIN: | DE0006452907 |
| WKN: | 645290 |
| Indices: | MDAX, TecDAX |
| Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 938591 |
| End of Announcement | DGAP News Service |