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The COMPAREX Group B.V. in the Netherlands sells its businesses in Austria, the East European countries and Spain to PC-WARE AG, Leipzig.
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| 28.06.2007 The COMPAREX Group of Companies has agreed to sell a part of its organisation to PC-WARE AG, Leipzig, effective as of 1 June 2007. In terms of this transaction, the subsidiaries in 8 countries - Austria, Spain, Czech Republic, Slovakia, Slovenia, Hungary, Poland and Romania - with a total headcount of 290 employees have been acquired by PC-Ware AG. This acquisition enables PC-WARE AG to gain access to new markets and to extend its portfolio and competencies.
After the management buy out at the end of 2002, the COMPAREX Group repositioned itself strategicly and focussed on being an independent systems integration business, providing IT services. This led to 2-digit growth in both revenue and profit over the last few years. The acquisition by PC-WARE AG of a part of the COMPAREX group confirms the success in the above strategy over the last few years, the approach from PC-WARE being totally unsolicited.
In the countries covered by this transaction, clients and prospective clients will be served by the same COMPAREX staff, and consultancy and services will also be provided at the same level of quality as before the transaction. By exploiting the resources and competencies of PC-WARE, the available portfolio of software solutions and services will be extended. The companies which are to be taken over by PC-WARE will continue to operate under the existing brand name. A license agreement with COMPAREX Germany, the owner of the brand name, has been concluded. The COMPAREX Group will now focus on its businesses in Belgium, Luxembourg and Germany. Germany alone has, in the past few years, generated more than 50 % of the Group´s total business.
Although the composition of the Group has changed, the services for multi-national clients will continue to be provided at the same high level of quality, and service agreements covering this issue have been signed by the parties involved.
The COMPAREX Group, which has been completely self-financed, has now - after the transaction - gained an even stronger financial position and sees itself as well positioned to play an important role in the consolidation of its markets. Some of the conditions required for the transaction to come into effect, such as approval of the cartel authorities, have yet to be met. However, a positive outcome is deemed to be more than likely and is expected by the end of July.
Press Contact:
COMPAREX Austria GmbH
Hietzinger Hauptstrasse 119
A-1130 Wien
info@comparex.at
Tel: +43 1 87810 - 0
Fax: +43 1 87810-161
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