SHS Viveon AG

M&A Activity • Jun 17, 2004

News Details

Corporate | 17 June 2004 08:41

SHS: Strict focus on core business areas:

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– SHS disposes of French subsidiary Munich, June 17, 2004. Munich-based SHS Informationssysteme AG today announced that it has sold its wholly-owned subsidiary SHS APSIA S.A., based in Saint- Cloud near Paris, to the company’s local management. The company currently has 23 employees and recorded gross sales of approximately EUR 2.9 million and balanced operating earnings in fiscal year 2003. Acquired in 1999, the French subsidiary had only played a minor role lately, given the new strategic orientation of the SHS Group. It was against this backdrop that the Group’s management decided to sell the subsidiary. This decision marks a further step on SHS’s path of focusing on its strategic core business areas. Streamlining the Group’s shareholdings enables the management to concentrate on expanding its business activities in Germany and Spain. The company’s activities in this regard will focus on further developing and selling GUARDEAN, the customer risk and customer value solution of SHS. However, SHS AG will continue its close cooperation with APSIA S.A. in the international marketing of GUARDEAN. Further information: SHS Informationssysteme AG Wolfgang Brand phone: +49 – 89 – 747257 – 0 e-mail: wolfgang.brand@shs.de end of message, (c)DGAP 17.06.2004 ——————————————————————————– WKN: 507240; ISIN: DE0005072409; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 170841 Jun 04