DGAP-Adhoc

GFT Technologies AG: Strategic company decision: GFT Technologies AG sells emagine division

GFT Technologies AG / Key word(s): Strategic Company Decision

27.07.2015 18:27

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Strategic company decision: GFT Technologies AG sells emagine Division

The Supervisory Board of GFT Technologies AG ("GFT") today approved the
discontinuation of the company's emagine division and the sale of all
companies belonging to the division in Germany, France and the UK. The
buyer is Financière Valérien SAS in which, on completion of the
transaction, the current management team headed by Jean-François Bodin, COO
for emagine on the Executive Board of GFT, and the
financial investor MBO Partenaires will hold stakes. The purchase agreement
is to be signed today. The transaction is subject in particular to approval
by the relevant anti-trust authority in Germany. The transfer of ownership
is planned for the third quarter of 2015. The parties agreed not to
disclose the purchase price.

The emagine division specialises in the staffing of technology projects
with freelancers and comprises five companies in Germany, France and the
UK. In 2014, its 129 employees generated revenue of EUR 86.09 million and
earnings before taxes (EBT) of EUR 1.66 million.

As a result of this transaction, the GFT Group is adjusting its forecast
for the financial year 2015: revenue expectations have been reduced to
around EUR 340 million (previously EUR 425 million). The full-year forecast
for earnings before interest, taxes, depreciation and amortisation (EBITDA)
has been reduced to EUR 42 million (previously EUR 44 million) and for
earnings before taxes (EBT) to EUR 29 million (previously EUR 31 million).
The exact impact in accordance with IFRS rules on the discontinued
division's net profit for the period have not yet been determined and will
be announced together with the mid-year figures.

Jean-François Bodin will step down as a member of the Executive Board of
GFT and leave GFT when the transaction is closed, but no later than on 30
September 2015.


27.07.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: GFT Technologies AG
Schelmenwasenstraße 34
70567 Stuttgart
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.gft.com
ISIN: DE0005800601
WKN: 580060
Indices: TecDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart

End of Announcement DGAP News-Service

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