The proceeds will be invested mainly in the acquisition of companies in Germany, Austria and Switzerland. The book profit of the deal is up to 225 million euros, the MDax-listed IT service provider said.
The sale is expected to be completed in the third quarter. Cancome intends to invest the proceeds mainly in the acquisition of companies in the core regions of Germany, Austria and Switzerland. A new board will decide then: On October 1, Rüdiger Rath will take over as Chief Operating Officer (COO) at Cancom. Rath has been with rival Logicalis since 2008, most recently as head of Europe for nine and a half years.
The move is the result of the company’s strategy review that was announced in May. At the time, it was said that “all strategic options for business activities in the UK and Ireland are being examined with an open mind”. In the British Isles, Cancom had sales of €138 million and an EBITDA profit of €19.7 million in 2020. (dpa/pma)
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