Ad-hoc | 12 December 2008 01:54
CANCOM IT Systeme AG / Acquisition
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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CANCOM IT Systeme AG today acquired 75.5 percent of the shares in Home of
Hardware GmbH & Co. KG based in Westendorf near Augsburg, Germany, for a
symbolic purchase price of EUR 3. Put and call options with earnings-based
purchase prices were agreed for the remaining 24.5 percent of the shares in
Home of Hardware GmbH & Co. KG.
Home of Hardware is one of the leading e-tailers in the IT sector. With a
workforce of around 85, Home of Hardware is expected to achieve sales of
around EUR 80 million in 2008 through its web shop www.hoh.de.
Against the background of an economic crisis, CANCOM sees good
opportunities in the e-tailer business due to increased price awareness
among customers. By bundling its know-how and creating synergies,
particularly in the fields of purchasing, marketing and logistics, CANCOM -
and more specifically the man who will remain as Home of Hardware's
Managing Director, Martin Wild - believe that, despite the obvious
restructuring expenses that will be required, the company is in a position
to quickly bring the business, which has been strongly sales oriented so
far, into profitability in the near future. To this end, the product
portfolio of Home of Hardware is to be streamlined and the existing B2B
area significantly expanded.
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Information and Explaination of the Issuer to this News:
Explanation:
The CANCOM Group, formed in 1992, is a leading provider of IT
infrastructure and professional services. Being one of the largest German
systems houses CANCOM offers its customers a broad range of products and
services. As one of the most important partners of HP, Microsoft, IBM,
Symantec, Citrix, Apple and Adobe in Germany, CANCOM has crucial know-how
in IT in order to provide comprehensive solutions.
CANCOM employs around 1,700 staff, thereof more than 1,100 staff in the
professional services division, at more than 30 locations in Germany,
Austria and the UK.
Contact:
Dr. Johannes Mauser
Vice President
Director Corporate Development
CANCOM IT Systeme AG
Messerschmittstr. 20
89343 Jettingen-Scheppach
Germany
Tel.: +49 (0) 8225 / 996 1272
Fax: +49 (0) 8225 / 996 4 1272
mail to: johannes.mauser@cancom.de
www.cancom.de
12.12.2008 Financial News transmitted by DGAP
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Language: English
Issuer: CANCOM IT Systeme AG
Messerschmittstraße 20
89343 Jettingen-Scheppach
Deutschland
Phone: +49 (0)82 259 96-1000
Fax: +49 (0)82 259 96-41051
E-mail: ir@cancom.de
Internet: www.cancom.de
ISIN: DE0005419105
WKN: 541910
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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