Blitz 17-11 GmbH and Allgeier Enterprise Services AG entered into a purchase agreement to acquire Ciber AG and Ciber Managed Services GmbH and Ciber France SAS and Ciber A/S from Ciber, Inc. (NYSE:CBR) and CIBER Holding GmbH for $8.8 million on February 3, 2017. Blitz 17-11 GmbH will acquire Ciber AG, Ciber France SAS and Ciber A/S from CIBER Holding GmbH. Allgeier Enterprise Services AG will acquire Ciber Managed Services GmbH from Ciber, Inc. The consideration is payable in three separate installments at closing, in March 2018, and in March 2019, subject to the achievement of certain operating performance targets for fiscal years 2017 and 2018. The deal is subject to antitrust approvals, applicable regulatory approvals, consent of Wells Fargo and is expected to be completed in the first quarter of 2017. Ciber AG sale proceeds is anticipated to be used for working capital and up to 50% of the net proceeds from the transaction is to be applied to reduce borrowings under Ciber, Inc.’s ABL Facility with Wells Fargo Bank, N.A. The deal was approved by Germany's anti-trust authority, the Bundeskartellamt, on February 21, 2017. As of March 22, 2017, execution of the agreement depends on further conditions, and requires the contractual parties to conduct further actions about implementation. Some of these conditions and actions cannot currently be established or implemented in the agreed form. As a consequence, the Management Board of Allgeier SE arrived at the assessment that the purchase agreement signed on February 3, 2017 cannot be executed at present. For this reason, the contractual parties started talks about a potential alternative structure to the transaction, which, rather than acquiring the companies, aims instead at purchasing the assets and contractual relationships of Ciber AG, Ciber Managed Services GmbH, Ciber France SAS and Ciber Denmark (asset deal). The committee of creditors approved the purchase agreements. With the acquisition more than 170 qualified jobs were retained in the two companies. Björn Hürten, Anne Gebel, Philipp Reeb, Philip Meichssner, Nanni Spitzer, Stephanie Zajicek, Annalisa Greger, Thomas Leister, Tanja Diepold, Juliane Reuter, Tim Reinhard, Piet Weinreich, Dominik Flaig, Thomas Funke and Ghazale Mandegarian of Osborne Clarke Germany and Axel Schmädicke of Altenburg acted as legal advisor for Allgeier Enterprise Services AG. Hans-Gerd Jauch of GÖRG acted as insolvency administrator for Ciber. Christoph Janssen, Daniel Schmitz, Christoph Müller, Christian Bürger, Philipp Arbeiter, Pia Pracht of Görg acted as legal advisors to Hans-Gerd Jauch. Jan Groß, Sarah Ungerechts and Lutz Maschlanka of Ebner Stolz Mönning Bachem, Legal Advisory Arm acted as legal advisors to Ciber AG and Ciber Managed Services GmbH and Ciber France SAS and Ciber A/S.