CANCOM SE — M&A Activity 2005

Nov 7, 2005

News Details

Ad-hoc | 7 November 2005 19:40

CANCOM IT Systeme AG takes over the assets of IT:net solutions GmbH

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— CANCOM IT Systeme AG takes over the assets of IT:net solutions GmbH Jettingen-Scheppach, Germany, 7 November 2005 – CANCOM IT Systeme AG today took over the employees and customer contacts of Bailingen-based IT:net solutions GmbH in Germany via its subsidiary, CANCOM Deutschland GmbH. IT:net solutions GmbH is a service provider specialising in the ERP market. The systems house, which resulted from a management buy-out of infor net solutions GmbH, has branches in Balingen, Solingen and Bremen. In the 2004/2005 financial year, the company realised sales of EUR 5.3 million and a profit contribution of EUR 1.8 million. IT:net solutions GmbH’s experienced management team, together with the company’s 23 employees, enables the smooth take over of the customer contacts. The purchase price of the assets, including a variable component, is approximately EUR 0.8 million. This takeover will enable CANCOM to considerably build up its presence in the fast-growing IT services and solutions market. If you have any queries, please contact: Armin Blohmann Investor & Public Relations Phone: +49 (0)8225 996 1051 Fax: +49 (0)8225 996 4 1051 Mail to: armin.blohmann@cancom.de CANCOM IT Systeme AG Messerschmittstraße 20 89343 Jettingen-Scheppach Deutschland ISIN: DE0005419105 WKN: 541910 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart End of ad hoc announcement (c)DGAP 07.11.2005