New strategic majority shareholder brings equity boost and new Board members

IT Competence Group SE has a new strategic majority shareholder. The long-standing major shareholder Navigator Equity Solutions SE has sold shares amounting to approximately 51% of IT Competence Group SE. The purchaser – and future majority shareholder – is audius AG, which is based in Weinstadt near Stuttgart.
 
Furthermore, the parties have agreed mutual options that, if exercised, will allow audius AG to purchase a further 22% of IT Competence Group SE from Navigator Equity Solutions SE in the course of the next three years.
 
Founded in 1991, audius operates in the areas of software, security and audit services, consulting, managed services, and physical risk management. The companies of the audius Group and IT Competence Group focus on strengthening their core competencies while broadening their service portfolio. Currently employing nearly 300 people, audius (without IT Competence Group) generated approximately EUR 27 million in revenue in 2018.
 
Initially, audius will continue to manage IT Competence Group as a separate strategic business unit in its Group. The goal is to jointly identify and strategically exploit economies of scale and competitive advantages among employees, customers, and suppliers. The audius Group, including IT Competence Group, will generate more than EUR 50 million in revenue and employ more than 500 people.
 
The transaction does not affect IT Competence Group SE’s current forecast for fiscal year 2019, which predicts revenue of more than EUR 26 million and an EBITDA of more than EUR 1.5 million and is confirmed by company management.
 
The new majority shareholder has appointed Rainer Francisi and Matthias Kraft to the management board of IT Competence Group SE with immediate effect. Existing Board member Wolfgang Wagner will head the company together with the two newly appointed Board members. 
 
A reorganization of the Supervisory Board will be discussed at the next Annual Shareholders’ Meeting.
 
The capital structure of IT Competence Group SE was reorganized in the run-up to the transaction. An instalment amounting to EUR 1.39 million of the subordinated loan between IT Competence Group SE and Navigator Equity Solutions SE was transferred to the capital reserve of IT Competence Group SE, thus increasing IT Competence Group SE’s equity by the same amount. The remaining balance of the subordinated loan (EUR 1.0 million) was converted into an interest-bearing loan.
 
IT Competence Group will head into 2019 stronger, with a significantly improved capital structure and a new strategic majority shareholder.
 
IT Competence Group SE
Investor Relations
 
Phone: +49 89-716 721-044
info@it-competencegroup.com