M&A Activity • Jul 16, 2007
M&A Activity
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Oslo Plads 12 DK-2100 Copenhagen O Denmark Telephone: +45 35 44 88 00 Telefax: +45 35 44 88 11 E-mail: [email protected] www.simcorp.com
Company Reg. No: 15 50 52 81
Announcement no. 11/2007 16 July 2007
Please be informed that as of today SimCorp A/S' sale of IT2 is now concluded.
SimCorp announced the sale of IT2 in Announcement 09 of 29 May 2007, in which expectations to the growth in SimCorp Dimension's revenue for 2007 were maintained. The net proceeds of the sale of the IT2 business amount to EUR 7.5m. To increase the transparency and comparability of the development in the SimCorp Dimension business, the sale of the IT2 business will be posted in the company's accounts as a one-off entry under discontinued activities. Additionally, historical account information will be adjusted for the contribution from the IT2 business, thus pointing forward the comparison with historical financial figures will be done on a like-for-like basis.
In connection with the sale of the IT2 business, Sales Manager for IT2, Ulrich Rosenquist, will resign as employee elected representative from SimCorp A/S' Board of Directors. He will be replaced by employee elected substitute, Jacob Goltermann.
Peter L. Ravn, Chief Executive Officer, SimCorp A/S, (+45 3544 8800, +45 4076 1841) or Torben Munch, Senior Vice President, SimCorp A/S, (+45 3544 8800, + +45 2223 4789)
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