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Munich, Germany, 9 August 2018 - Today, representatives of CANCOM Group and shareholders of The Organised Group Ltd, West Sussex, UK, and of one associated real estate entity signed a contract to acquire 100 percent of the shares of both companies by a UK-based subsidiary of CANCOM SE ("transaction"). The Organised Group is the holding company of IT services and solutions provider OCSL, the associated business owns real estate used by OCSL. The total volume of the transaction amounts to around GBP 29 million. Of this GBP 26 million is paid in cash. The remaining part is settled by issuing 12.5 percent of the shares of the acquiring UK-based subsidiary of CANCOM SE to OCSL executives, who continue working for the company.
Under this transaction, OCSL becomes part of the CANCOM Group. OCSL is a UK provider of cloud and on premise IT solutions, consultancy and support. It offers a broad portfolio of IT products and services to its clients, ranging from cloud and managed services, IT architecture design and strategic consultancy to data center services as well as hardware and software. With OCSL acting as future hub for CANCOM Group's UK activities, the transaction creates a major player in the country's IT market utilising the combined product portfolios, capabilities and partner relationships of OCSL and CANCOM. At the same time, it establishes a substantial UK-based branch for the international managed services business of CANCOM Group.
As a group, OCSL with its more than 200 employees generated revenues of over GBP 70 million with 5.5 percent EBITDA margin in the last full financial year before the acquisition.
CANCOM SE, Erika-Mann-Straße 69, 80636 Munich, Germany
ISIN DE0005419105, Frankfurt Stock Exchange (TecDAX, Prime Standard)
Sebastian Bucher, Manager Investor Relations
+49 (0)89 540545193