4. August 2021 | Corporate News
– Book gain from sale in the amount of EUR 225 million
– Transaction strengthens position for growth in the DACH region
Munich, Germany, 4 August 2021 – CANCOM SE has successfully completed the sale of its subsidiary CANCOM Ltd. to Telefónica TECH for an enterprise value of almost EUR 400 million. The closing of the transaction took place today, with CANCOM SE receiving cash of around EUR 390 million. The book profit of around EUR 225 million will be recognised in the CANCOM Group’s profit for the period in the third quarter of 2021.
“Following the successful sale of CANCOM Ltd., we are now concentrating our efforts on the DACH region. Here we have already shown in the past that we can grow successfully through acquisitions and are a market consolidator,” said Rudolf Hotter, CEO of CANCOM SE. “With the completion of the transaction we have laid a very good foundation for the further development of the CANCOM Group.”
As a Digital Transformation Partner, CANCOM accompanies organizations into the digital future. CANCOM supports customers to simplify complex enterprise IT and increase their business success through the implementation of modern technology. In order to comprehensively meet the IT needs of companies, organizations, and the public sector, CANCOM delivers tailor-made IT end to end from a single source.
The CANCOM Group’s range of IT solutions includes consulting, implementation, services, and the management of IT systems. Customers benefit from the extensive expertise as well as a holistic and innovative portfolio that covers the IT requirements that are necessary for a successful digital transformation. As a hybrid IT integrator and service provider, the Company provides an integrated range of services and solutions including business solutions and managed services, such as cloud computing, analytics, enterprise mobility, IT security, hosting, and as-a-service offerings.
With more than 4,000 employees worldwide, the internationally active CANCOM Group and its efficient partner network ensure market presence and customer proximity in Germany, Austria, Switzerland, Belgium and the USA. The CANCOM Group is led by Rudolf Hotter (CEO) and Thomas Stark (CFO). The company is headquartered in Munich. CANCOM had an annual revenue of around EUR 1.3 billion in 2020 and its parent company, CANCOM SE, is listed in the MDAX and TecDAX of the Frankfurt Stock Exchange (ISIN DE0005419105).