24. April 2023 | Ad Hoc
CANCOM SE: CANCOM SE takes over KBC Beteiligungs GmbH
Munich, Germany, 24 April 2023 – The CANCOM Group and K-Businesscom have decided to work together in future under the umbrella of the CANCOM Group. Accordingly, CANCOM SE today concluded an agreement with the shareholders of KBC Beteiligungs GmbH, the parent company of K-Businesscom AG (hereinafter “KBC”), on the transfer of all shares in KBC to CANCOM SE. The transaction has a total volume of around € 165 million, which is made up of a purchase price share in cash of around € 58 million and a capital increase against contribution in kind with the issue of around 3.5 million new no-par value shares in CANCOM SE to the shareholders of the KBC Group through the use of Authorised Capital I/2018. Following completion of the transaction, it is planned that CANCOM SE will repay existing financial liabilities of KBC Beteiligungs GmbH of around € 37 million in the short term.
In addition, it was agreed that the current member of the Executive Board of K-Businesscom AG, Jochen Borenich, will join the Executive Board of CANCOM SE as Chief Sales Officer after the final closing of the transaction. Rüdiger Rath, CEO of CANCOM SE and Thomas Stark, CFO of CANCOM SE, will take seats on the Supervisory Board of K-Businesscom AG. The current CEO of K-Businesscom AG, Dr Franz Semmernegg, will continue to lead K-Businesscom in his current position.
K-Businesscom AG is Austria’s leading ICT solutions and service provider with revenue of around € 520 million in the financial year 2022/2023, an EBITDA of around € 28 million and around 1,650 employees. As a digital business engineer for IT and business consulting and software development, the company is active not only in Austria but also in Germany, Switzerland, Romania and the Czech Republic. Under the umbrella of the CANCOM Group, K-Businesscom will in future concentrate on the markets of Austria, Switzerland and Romania.
The closing of the transaction is still subject to customary conditions precedent, in particular the approval of the antitrust authorities. Subject to approval, the transaction is expected to close in June 2023.
CANCOM SE, Erika-Mann-Straße 69, 80636 Munich
ISIN DE0005419105, Frankfurt Stock Exchange (SDAX, TecDAX, Prime Standard)
Contact / Notifying Person:
Florian Mangold, Specialist Investor Relations
+49 (0)89 540545511
Note on Alternative Performance Measures:
The definitions of the alternative performance indicator EBITDA used in this report are published in the CANCOM SE Annual Report 2022 on page 16.