CTS Eventim AG & Co. KGaA — M&A Activity 2001

Jul 6, 2001

News Details

Ad-hoc | 6 July 2001 08:09

CTS Eventim AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Due Diligence concluded / Now also technological leader for ticketing software / Enormous synergies and cost advantages / New board member for research and development Munich, 6 July 2001: The ticket sales company and live entertainment promoter CTS Eventim AG, Munich, has successfully concluded due diligence in connection with the purchase of ShowSoft GmbH, Bremen, which was announced in May. This means that with the 100% takeover, the messerknecht-Group enterprise ShowSoft can be consolidated with the CTS group as of 1 August 2001. ShowSoft is one of the leading European providers of software for ticketing management systems in the spheres of culture and sports and sells the most up-to-date technological solutions for in-house and internet ticketing. In the long term, the takeover will give CTS secure technological leadership in the ticketing field. To date around 12 million tickets are being sold annually using the ShowSoft software and thus CTS will be able to considerably reduce its IT development costs (2000: approximately 11 million DM). The takeover of the new subsidiary’s highly qualified employees will make it possible to develop IT solutions in-house instead of having to resort to external providers which was the case up to now. Showsoft is a profitable company even without the synergies which can be expected by being part of the group: in the coming year the subsidiary is expected to have a profit margin – with reference to the EBIT (operating result) – of around 28 per cent of its turnover which is anticipated to reach 6.5 million DM. For the current year proceeds of 5.6 million DM are anticipated. The fact that Dr. Rainer Bartsch (44), Director of the IT department and leading developer for ticketing within the messerknecht-Group, will as of 1 August 2001 be the new CTS board member responsible for research and development underlines the significance of the recent purchase for the further expansion of CTS’s technological leadership in the field of ticketing management systems. For further information contact: Volker Bischoff, CTS EVENTIM AG, Tel: 0049(0)421/3666233, e-mail: volker.bischoff@eventim.de end of ad hoc announcement (c) DGAP 06.07.2001 ——————————————————————————– WKN: 547030; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 060809 Jul 01