M&A Activity • Jul 3, 2007
M&A Activity
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July 03, 2007 – Qurius finalized the acquisition of Ibitec, a leading supplier of Microsoft solutions, systems development and education in Sweden. Ibitec has 80 staff members and offices in Stockholm, Gothenburg and Linköping. Its profitable 2006 turnover was 6.5 million euro. Ibitec's clients include large Swedish and international enterprises such as Ericsson, BT Industries, Toyota Material Handling, SAAB, Volvo, DeLaval and GGP Sweden (Stiga), municipalities and public bodies.
"Ibitec and Qurius well complement each other. Having cooperated in multiple projects, we have learned that Ibitec excels in innovative software development. Ibitec also has the right market and business knowledge to advise enterprises and institutions on the competitive advantages, improvements and innovations that can be achieved using Microsoft products. To this, they owe their Microsoft Enterprise Group Partner status, meaning that they belong to the few companies serving a country's top 250 companies together with Microsoft", says Qurius director Tom Stolk, responsible for the international business.
The acquisitions of Ibitec, Cedilla and Wilhelm + Zeller, with a total turnover in 2006 of 17.5 million euro, have been paidwith the proceeds resulting from the shares issue of 22nd June 2007 that raised, after deduction of cost, a net amount of 33 million euros. The fixed purchase price for these three companies amounts to a total of 10 million euros. Furthermore, "earn-out" agreements have been made with objectives for 2007 for a maximum total of 3.3 million euro. Qurius has the choice to pay any such "earn-outs" either with cash or with shares.
Ibitec is a knowledge company in the field of innovative business solutions, state of the art system development and advanced IT education. Ibitec is known as the Swedish most competent Microsoft partner providing advanced solutions, such as portals and integration. Ibitec is Microsoft Enterprise Group Partner and Microsoft Gold Partner with the competencies Business Process and Integration, Information Worker, Microsoft Business Solutions (for Microsoft Dynamics AX and Microsoft Dynamics CRM) and Learning Solutions (for the only Microsoft Dynamics AX CPLS in Sweden). Ibitec was founded in 1999; its 80 staff members are based in Stockholm, Gothenburg and Linköping (headquarters).
Qurius provides architecture, realization and systems management of Microsoft technology based business and IT solutions, including infrastructures. Qurius has over 900 staff members; its headquarters are located in Zaltbommel, the Netherlands. Its offices in Belgium, Denmark, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the United Kingdom serve over 2,300 clients. Qurius has been publicly listed on Euronext Amsterdam since 1998. On 18 December 2006, Qurius' shareholders authorized the merger with Watermark, which created Europe's largest Microsoft Dynamics partner. For further information, see www.qurius.com.
Qurius, Fred Hermans: telephone +31 (0)418 683 500 or [email protected]. Field Code C
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