EQS-News

CANCOM SE: CANCOM successfully completes major step in acquisition of KBC Beteiligungs GmbH

EQS-News: CANCOM SE / Key word(s): Forecast/Takeover CANCOM SE: CANCOM successfully completes major step in acquisition of KBC Beteiligungs GmbH 25.05.2023 / 12:09 CET/CEST The issuer is solely responsible for the content of this announcement. CANCOM SE: CANCOM successfully completes major step in acquisition of KBC Beteiligungs GmbH

• Transaction creates a new strong player in the IT services market with a significant presence in the DACH region.
• Executive Board of CANCOM SE to be expanded to three members.
• Updated forecast for the financial year 2023.

Munich, Germany, 25 May 2023 - The Executive Board of CANCOM Group today signed the contribution agreement with the shareholders of KBC Beteiligungs GmbH following the expiry of the cartel reservation, thus taking a major step in the takeover of KBC Beteiligungs GmbH. The transaction is expected to be completed at the beginning of June with the entry of the implementation of the capital increase in kind of the CANCOM Group in the commercial register, which was part of the transaction. Once the transaction has been completed, KBC Beteiligungs GmbH, together with its operating subsidiary K-Businesscom AG and its affiliated companies, which with their 1,650 employees generated total revenues of around € 520 million and EBITDA of € 28 million in the past financial year, will belong to the CANCOM Group. The volume of the cash and share components of the transaction amounts to around € 165 million. Furthermore, existing financial liabilities of K-Businesscom amounting to € 37.5 million will be repaid in the short term as part of the transaction. Part of the transaction is a capital increase against contribution in kind at CANCOM SE with the issue of 3.5 million new no-par value bearer shares to the shareholders of KBC Beteiligungs GmbH by utilising the Authorised Capital I/2018.

The transaction clearly strengthens the market position of both companies in the DACH region. “The outstanding market position and geographical presence and the expertise of K-Businesscom are a perfect fit for CANCOM. Particularly in the areas of portfolio, logistics and customer access, there is potential for synergies and we are gaining many highly specialised experts in the areas of communication, security and digital solutions," says Rüdiger Rath, CEO of the CANCOM Group, summarising key considerations behind the transaction. "The takeover of K-Businesscom is the largest acquisition in CANCOM's history and I look forward to working with our new colleagues in the coming years to further expand CANCOM's position as a leading hybrid IT service provider."