PC-Ware Information Technologies AG
Start of negotiations with Softcat plc in order to acquire 100%
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Marlow/Leipzig
The management board of PC-Ware AG, Germany, has been authorised by its
supervisory board to enter into negotiations with Softcat plc, a rapidly
expanding UK IT company, in order to acquire 100% of the share capital of
Softcat plc. A letter of intent has been signed between the two companies. The
acquisition is planned to be complete before the end of 2004. Softcat plc was
incorporated in 1993 and currently employs 118 members of staff. The company
generated estimated revenue of above GBP 51 million in FY 2003/2004 (end of the
FY: July 31, 2004) The EBT is expected to be GBP 2.1 million. Softcat is
focusing on the SMB segment (50 to 3000 PCs) in the UK where it is the market
leader for Microsoft licensing. Additionally Softcat is a Microsoft Large
Account Reseller (LAR).
Website: www.softcat.com
PC-Ware AG employs about 750 members of staff in 10 European countries (e.g.
UK). The IT enterprise has been operating profitably since its incorporation in
1990.
In FY 2003/2004 (ended March 31, 2004), PC-Ware generated revenues of Euro 404.5
million. PC-Ware’s core business is software licensing as well as software
services. In 2003, the German IT service provider was awarded the ELAR/ESA
Status for the EMEA region by its most important partner Microsoft. PC-Ware’s
main customers are public authorities and enterprises from 500 to 5000 PCs.
Website: www.pc-ware.de
Synergies arising from this acquisition should lead to substantial revenue
growth and expansion into new areas and customer segments in the IT market area.
For further information
Frank Noack
General Manager UK
Tel: 0341 – 2568 000
end of ad-hoc-announcement (c)DGAP 31.08.2004
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WKN: 691090; ISIN: DE0006910904; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover und Stuttgart
310841 Aug 04
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