Corporate | 27 June 2014 19:18
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Software AG / Key word(s): Disposal
PRESS RELEASE SALE OF SAP SERVICE BUISNESS CONCLUDED Darmstadt, 27 June 2014 – Software AG (Frankfurt TecDAX: SOW) concluded the sale of its SAP consulting unit to Scheer Group GmbH, Saarbrucken (Germany), on 31 May 2014. The transaction primarily includes all service operations around SAP solutions in Germany, Austria and Switzerland which, up to now, constituted the IDS Scheer Consulting subsidiary. With this step, Software AG concludes the consolidation process of its SAP consulting business, following the sale of its consulting activities in North America and Eastern Europe last year. As a software product house, the company will exclusively focus on the development, sales and services of its own products. With the conclusion of the transaction, IDS Scheer Consulting, including its 474 employees, has become part of the Scheer Group. Through the spin-off of the SAP consulting unit, effective as of 31 May 2014, Software AG’s revenue in its business line “Consulting” will decrease to a total of around EUR55 million in the second quarter. The reported (non-operational) result of the company will be burdened as a one-off by a low single digit million euro amount in the current quarter. Further details will be released with Software AG’s second quarter results on 24 July 2014. The closed transaction has also led to a change in Software AG’s Supervisory Board. Roland Schley, who had been a member of the Supervisory Board based on his role as “Practice Manager ARIS Services” belonging to IDS Scheer Consulting, has resigned from his position as of the effective date. As his successor, Maria Breuing was been appointed by the court as employee representative for the remaining period of office, which will end with the Annual General Meeting in 2015. ###
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End of Corporate News 27.06.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Software AG | |
| Uhlandstraße 12 | ||
| 64297 Darmstadt | ||
| Germany | ||
| Phone: | +49 (0)6151 92-1900 | |
| Fax: | +49 (0)6151 92-34 1899 | |
| E-mail: | Investor.Relations@softwareag.com | |
| Internet: | www.softwareag.com | |
| ISIN: | DE0003304002 | |
| WKN: | 330400 | |
| Indices: | TecDAX | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 275683 27.06.2014 |