GK Software : Plans to Acquire a Majority Stake in prudsys AG
September 25, 2017 at 10:55 am EDT
Share
DGAP-Ad-hoc: GK Software AG / Key word(s): Investment/Letter of Intent
GK Software Plans to Acquire a Majority Stake in prudsys AG
25-Sep-2017 / 16:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
GK Software AG plans to acquire the majority stake in Chemnitz-based prudsys AG, a company specialized in artificial intelligence. In the financial year 2016, the company achieved sales of 3.6 million euros with an EBIT of between a quarter and half a million euros.
The Supervisory Board of GK Software AG today approved the planned transaction subject to the successful conclusion of the due diligence. A further prerequisite for the completion of the transaction is the approval of the annual shareholders' meeting of prudsys AG. The Management Board of prudsys AG has recommended the shareholders to accept the offer of GK Software.
The Management Board of GK Software AG estimates that the acquisition of the majority stake will cost up to 5 million euros.
Information and Explanation of the Issuer to this News:
About prudsys GmbH
Founded in 1998 as a spin-off of the Technical University of Chemnitz, the company is a leader in the field of artificial intelligence applications in online commerce. More than 200 online shops rely on the company's artificial intelligence solution for real-time intelligence-based data analysis. prudsys' customers include Babywalz, bonprix, Conrad, Coop, Douglas, Klingel, Otto, Obi, SportScheck, Thalia and Würth. GK Software expects the acquisition to strengthen its own portfolio by integrating prudsys know-how in the areas of artificial intelligence, cloud technologies and data mining.
25-Sep-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
GK Software AG
Waldstraße 7
08261 Schöneck
Germany
Phone:
+49 (0)3 74 64 84 - 0
Fax:
+49 (0)3 74 64 84 - 15
E-mail:
info@gk-software.com
Internet:
www.gk-software.com
ISIN:
DE0007571424
WKN:
757142
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange
GK Software SE is a Germany-based Company, which is a global provider of cloud solutions for the international retail industry. The Company specializes in software and services for the operation of retail company branches. It operates through two segments: GK/Retail and IT Services. The GK/Retail segment offers various software products and end-to-end solutions, including software for store device control and mobile merchandise management, for secure handling of business processes at traditional and mobile points of sale (POS), as well as software for task management, centralization of back office servers, facility administration, and promotion management, among others. The IT Services segment offers services for operating systems at store-based retailers, such as user support and monitoring and maintenance of software and hardware. It is a subsidiary of Fujitsu Limited. It has a number of wholly owned subsidiaries, such Eurosoftware s.r.o., Prudsys AG and AWEK GmbH, among others.