Columbus A/S
Columbus acquires US consultancy

Columbus A/S 

01.07.2015 17:34

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Columbus A/S acquires Sherwood Systems, a US consulting company serving more
than 300 customers. The acquisition strengthens Columbus' coast-to-coast reach
in the US market. 



                              Release no. 16/2015
                                        

                                        

Today, Columbus A/S acquired Sherwood Systems, a US business application
consultancy. The acquisition of Sherwood Systems is in line with Columbus'
strategy to expand within the company's key markets and hereby strengthen the
company's global position as an innovative solution provider. 

Sherwood Systems has 10 employees and is located in Phoenix Arizona. In fiscal
year 2014 the revenue was USD 2.4m and EBITDA USD 0.3m. 

The acquisition price is USD 1m. USD 0.5m has been paid at closing, the
remaining payment will be paid during the subsequent 2 years. 

The acquisition is financed by Columbus' own available funds.

For Columbus the entire acquisition price, including adjustments of fair value
of assets and liabilities, is expected to be capitalized as intangible assets. 

The acquisition is expected to contribute with a revenue in the level of USD 1m
and EBITDA* in the level of USD 0.1m in the remaining 6 months of the year.
However, Columbus maintains the previous announced guidance of revenue in the
level of DKK 1.03bn and EBITDA* in the level of DKK 94m in 2015. 



The acquisition takes place with immediate effect.







Ib Kunøe                                  Thomas Honoré

Chairman of the Board                       CEO & President

Columbus A/S              Columbus A/S





* EBITDA before share-based payment



Contact for further details

Thomas Honoré, CEO, T: +45 70 20 50 00.



Translation: In the event of any inconsistency between this document and the
Danish language version, the Danish language version shall be the governing
version.
News Source: NASDAQ OMX



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Language:     English
Company:      Columbus A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010268366
WKN:          
 
End of Announcement                             DGAP News-Service
 
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