adesso AG

EANS-Adhoc: adesso AG assumes majority share in industry specialist evu.it GmbH with 85 employees
adesso enters industry specific SAP consulting and the energy and water utilities customer segment

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  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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Contracts

20.04.2010

adesso AG is entering the SAP consulting business with its initial acquisition of a 60 % share in evu.it GmbH. Dortmund-based evu.it has many years of experience in providing SAP solutions for energy and water utilities and is therefore well-suited to adesso´s strategy. The company generated over EUR 8 million in sales revenues with its 85 specialists and expects pre-tax returns of between 5 % and 7 % for 2010.

The seller is an IT service provider owned by local authorities that specialises in public utilities and local government administration. The company has to dispose of evu.it due to legal restrictions in its business model. The transaction entails a incremental acquisition by adesso that will initially total 60 % and increase to 80 % after three years using a combined call and put option. A symbolic purchase price of EUR 3 was agreed for the initial 60 %. Credit lines and a loan amounting to a total of EUR 1.7 million are also being assumed by adesso. The purchase price for the remaining 20 % is dependent on the company´s profit development over the next three years, but should not exceed EUR 900 thousand. The longstanding CEO of evu.it will purchase the remaining 20 % share.

adesso´s Supervisory Board approved the transaction on 20. April 2010. Signing the purchase agreement and notary certification are yet to be completed.

end of ad-hoc-announcement ========================================== ====================================== Additional information:

evu.it’s favourable position with energy providers such as RWE, E.ON, EnBW as well as various major public utilities and water management companies is of interest to adesso. The utility industry is very promising for specialised IT service providers as the market is subject to regulatory provisions, including the legally prescribed separation of network operation and distribution and the introduction of intelligent consumption meters (so-called smart metering) as well as load and time dependent cost structures. The industry is therefore required to constantly adjust its IT systems to cope with new demands resulting from these regulations. At the same time, profound knowledge of these systems is a very scarce commodity and presents a major hurdle to competitors looking to enter the market.

The expansion of adesso’s portfolio with SAP technologies also opens new prospects for existing segments and business relationships. A high percentage of adesso’s customers use SAP solutions that communicate with the customer-specific software systems developed by adesso through various interfaces. The expertise regarding these interfaces is being increased thanks to this acquisition – further enhancing adesso’s competitive position in the process.

end of announcement                               euro adhoc
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Further inquiry note:

Christoph Junge
Member of the Board
Tel.: +49 231 930-9330
E-Mail: ir@adesso.de

Branche: Computing & Information Technology
ISIN: DE000A0Z23Q5
WKN: A0Z23Q
Index: CDAX
Börsen: Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Frankfurt / regulated dealing/general standard
Original-Content von: adesso AG, übermittelt durch news aktuell

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