INTRACOM HOLDINGS sells INTRASOFT for €235M
NETCOMPANY shall acquire the entire outstanding share capital in INTRASOFT INTERNATIONAL.
INTRACOM HOLDINGS announced that, the Group’s subsidiary INTRACOM TECHNOLOGIES S.a.r.l, has entered into binding agreement with NETCOMPANY GROUP A/S for the sale and transfer of the total outstanding shares of INTRASOFT INTERNATIONAL, a leading European provider of advanced IT solutions and services with strong international presence and expertise.
Pursuant to such binding agreement between NETCOMPANY and INTRACOM TECHNOLOGIES, NETCOMPANY shall acquire the entire outstanding share capital in INTRASOFT INTERNATIONAL out of which percentage of 91,74 % is currently held by INTRACOM TECHNOLOGIES S.a.r.l, whereas the remaining percentage is held by individuals in the top and middle management of INTRASOFT INTERNATIONAL.
The transaction value is € 235 million for the acquisition of the entire outstanding share capital of INTRASOFT INTERNATIONAL and the purchase price which amounts to € 184,8 million comprises a combination of cash and share consideration by the acquiring company.
More specifically, for the acquisition of the entire outstanding share capital of INTRASOFT INTERNATIONAL, the agreement provides for a cash payment of € 166,8 million and a share consideration in NETCOMPANY’s shares corresponding to a value of € 18 million.
Completion of the transaction is expected within Q4 2021, and is subject to anticipated conditions precedent and necessary approvals.