M&A Activity • Nov 17, 2011
M&A Activity
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Zaltbommel 17 November 2011 - Qurius and its strategic ally Prodware agreed to transfer the Qurius operations in Belgium and Spain from Qurius to Prod ware. This transfer aligns with the mutual strategy to create synergies between the two groups and thus laying a strong foundation for a global champion in business solutions and applications. Qurius Spain, will be reinforced as an uncontested leader in Spain and will be the hub to develop business in Latin America the same way Prodware France is positioned with its business in the francophone area. Qurius Belgium and Prodware Belgium will integrate into one company which takes a leading position in Belgium with presence in both Flanders and Walloon provinces. The operations in Belgium and Spain will profit from the Prodware expertise to generate immediate growth. Following this operation, Qurius will receive EUR 3 million in cash. Qurius will use this to support accelerated growth in the UK and Germany while maintaining its leadership position in The Netherlands, and to improve its net debt position.
Qurius CEO Leen Zevenbergen and Prodware CEO Alain Conrard: "We are arranging our business portfolio and optimize the complementary effects of Qurius and Prodware. We grow business short term where we can and we are preparing future developments towards market leadership. Qurius will focus on considerable growth to dominant market positions in UK and Germany while it remains strong in The Netherlands. It will achieve this by focussing on industry sectors and offer innovative solutions to the (upper) mid-market. The re-arrangement of our portfolios provides us with a strong basis for creating a profitable growth in the next years in our respective key-countries."
Founded in 1989, Prodware creates, integrates and hosts IT solutions for businesses. Prodware acts in a sector where success requires a combination of strong IT expertise and industry know -how. Prodware serves more than 17,500 active clients, and is a key actor and partner for the installation and management of global IT solutions and applications. Present in 10 countries and internationally through strong strategic alliances the Group supports companies in their international expansion.
As a corporate responsible company, Prodware assists its customers in their progress towards achieving sustainable development with its GreenITude® offer of solutions and services. (www.greenitude.fr)
Qurius provides innovative IT solutions in design, architecture, infrastructure, implementation and system management of Microsoft-based business solutions. From a dozen offices and headquartered in Zaltbommel, Qurius serves clients throughout Europe - with The Netherlands, United Kingdom, Germany and the Czech Republic as its backbone. Qurius focuses on the midmarket and larger companies and organisations. Core in its vision are innovation, the New Way of Working and sustainability. The company aims at operating sustainably for the full hundred per cent by the end of 2014. Qurius has been listed on the Euronext Amsterdam since 1998.
Qurius NV, Albert Holtzappel, Manager Corporate Communication & Investor Relations. [email protected], t +31 (0)418 68 35 00, m +31 6 14 70 96 95
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