Deutsche Börse AG

M&A Activity • Nov 30, 2001

News Details

Ad-hoc | 30 November 2001 07:30

Deutsche Börse AG english

Deutsche Börse wants to take over IT service provider entory Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Deutsche Börse wants to take over IT service provider entory – Acquisition will create one of the biggest German IT service providers in the financial sector – Executive Board and principal shareholders support the deal and have agreed to transfer of their shares – Tender offer for remaining shares runs from 30.11.01 to 14.12.01 Frankfurt, 30 November 2001 Deutsche Börse AG, Frankfurt, wants to merge the business activities of its subsidiary Deutsche Börse Systems with entory AG, Karlsbad, and take over the company through the purchase of shares. With the merger, Deutsche Börse wants to take a decisive step forward in its IT growth strategy: The merger will create one of the biggest German IT providers of integrated solutions for the financial services industry, it says. The Executive Board and principal shareholders of entory, who together hold the majority of shares in the company, support the deal and have already agreed to the transfer of their shares to Deutsche Börse. For the remaining shares of entory AG, Deutsche Börse will submit a private tender offer to the some 340 further shareholders. The offer will run from November 30 to December 14 this year. The transaction will be carried out against cash payment, with a volume of up to about 110 million euros, depending on a performance component. It is subject to acceptance of entory shareholders representing a minimum of 95 percent of the share capital as well as approval by the Supervisory Board of Deutsche Börse, which is expected to be forthcoming by mid-December. The deal is to be closed by the end of the year. entory is a leading, unlisted IT service provider in the financial sector and has projected sales of about 100 million euros for the year 2001 with some 400 employees. The merger combines two successful, complementary business models into one IT service provider that offers the design, implementation and operation of innovative solutions for the financial services industry from a single source. Banks, insurance companies, investment companies and exchanges are the main target group for the integrated service portfolio. With entory, Deutsche Börse can extend its value-added chain in the Systems segment and expand the share of its external IT sales considerably to more than 50 percent. During the first nine months of this year, Deutsche Börse Systems contributed about 20 percent (103 million euros) to Groupwide sales and some 35 percent (77.2 million euros, calculated from internal and external sales revenue) to the earnings before interest and taxes (EBIT) of Deutsche Börse. end of ad-hoc-announcement (c)DGAP 30.11.2001 ——————————————————————————– WKN: 581005; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300730 Nov 01