GK Software SE - M&A Activity 2017

News Details

Ad-hoc | 25 September 2017 16:50

GK Software Plans to Acquire a Majority Stake in prudsys AG

GK Software AG / Key word(s): Investment/Letter of Intent

25-Sep-2017 / 16:50 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

GK Software AG plans to acquire the majority stake in Chemnitz-based prudsys AG, a company specialized in artificial intelligence. In the financial year 2016, the company achieved sales of 3.6 million euros with an EBIT of between a quarter and half a million euros.

The Supervisory Board of GK Software AG today approved the planned transaction subject to the successful conclusion of the due diligence. A further prerequisite for the completion of the transaction is the approval of the annual shareholders’ meeting of prudsys AG. The Management Board of prudsys AG has recommended the shareholders to accept the offer of GK Software.

The Management Board of GK Software AG estimates that the acquisition of the majority stake will cost up to 5 million euros.

GK Software AG

Waldstraße 7

08261 Schöneck

Germany

WKN 757142

ISIN DE0007571424

Listed: Frankfurt (Prime Standard)

(End of the obligatory announcement)

Information and Explanation of the Issuer to this News:

About prudsys GmbH

Founded in 1998 as a spin-off of the Technical University of Chemnitz, the company is a leader in the field of artificial intelligence applications in online commerce. More than 200 online shops rely on the company’s artificial intelligence solution for real-time intelligence-based data analysis. prudsys’ customers include Babywalz, bonprix, Conrad, Coop, Douglas, Klingel, Otto, Obi, SportScheck, Thalia and Würth. GK Software expects the acquisition to strengthen its own portfolio by integrating prudsys know-how in the areas of artificial intelligence, cloud technologies and data mining.

25-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

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Language:	English
Company:	GK Software AG
	Waldstraße 7
	08261 Schöneck
	Germany
Phone:	+49 (0)3 74 64 84 – 0
Fax:	+49 (0)3 74 64 84 – 15
E-mail:	[email protected]
Internet:	www.gk-software.com
ISIN:	DE0007571424
WKN:	757142
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange