10.07.2018
cyan AG DE000A2E4SV8
DGAP-News: cyan AG acquires majority stake in I-New Unified Solutions AG, significantly expanding its international reach to Mobile Virtual Network Operators (MVNOs)
DGAP-News: cyan AG / Key word(s): Takeover/Investment
cyan AG acquires majority stake in I-New Unified Solutions AG, significantly
expanding its international reach to Mobile Virtual Network Operators
(MVNOs)
10.07.2018 / 15:39
The issuer is solely responsible for the content of this announcement.
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cyan AG acquires majority stake in I-New Unified Solutions AG, significantly
expanding its international reach to Mobile Virtual Network Operators
(MVNOs)
- Financing of the purchase price from own funds and bank financing
- New Group expects to generate total revenues of at least EUR 35 million
and EBITDA of at least EUR 20 million in 2019
Munich / 10 July 2018. cyan AG, a leading European provider of innovative
white labeled IT security solutions for end customers of telecommunications
providers (MNOs/MVNOs), banks and insurance companies as well as gaming and
cryptocurrency platforms, is acquiring a 76.81 % stake in I-New Unified
Mobile Solutions ("I-New"), a leading provider of technology and service
solutions and MVNO platforms. I-New has 11 locations on 5 continents with
around 40 Mobile Virtual Network Operators (MVNO) as clients, which serve
around 5.5 million end customers. Clients of I-New include Virgin Mobile,
with its activities in Colombia, Chile, Mexico and Peru, and Skinny in New
Zealand. I-New offers those B2B-customers the full-service technology
platform "from A to Z" to operate an MVNO, so that the respective partner
can fully focus on his core competency of marketing, branding and
acquisition of customers.
cyan is acquiring the shares from Austrian based Novomatic AG. The total
volume of the transaction amounts to EUR 17.1 million, of which EUR 13.6
million amount for the acquired shares including taking over existing
financing lines of banks. EUR 3.5 million will be paid via an earn-out model
depending on earnings development of I-New in 2019, 2020 and 2021.
A binding purchase agreement was concluded today, which has already been
approved by the Supervisory Board of cyan AG. Closing shall take place on 30
July 2018.
The purchase price is to be financed with the company's own, existing funds
and by bank financing. Corresponding financing commitments have already been
made by the banks.
cyan AG expects the transaction to have significant revenues and earnings
effects as early as 2018 as well as significant synergy potentials, which
are to be fully exploited within the next 24 months. In particular, through
the acquisition of I-New, cyan will be able to significantly expand its
international reach to MVNOs and should save up to two years relative to the
alternative of gradual development of the market through its own customer
acquisition activities.
Based on the combined revenue expectations, cyan expects at least EUR 20
million in pro forma revenues in 2018 and at least EUR 35 million in 2019.
Overall, the Group aims to generate an EBITDA of at least EUR 7 million in
2018 and at least EUR 20 million in 2019 on a conservative forecast basis
with only moderate synergy effects.
Cyan offers its customers comprehensive network security modules and
products designed to optimize their mobile network. These solutions allow
the MVNO to sell state-of-the-art cyber-security products to their customer
base and significantly reduce required data volume, resulting in substantial
cost savings. At the moment, cyan is working e.g. with Surf Telecom, the
fastest growing MVNO in Brazil, and Flash Mobile in Mexico. An extensive
technology partnership with I-New has already been in place.
In combination with I-New's expertise, cyan is now in a position to offer
its clients services across the entire value chain: including platform
solutions, data optimization and cyber security. In doing so, it has taken a
major step towards becoming the leading global provider of integrated
security and telecommunications solutions. cyan expects great potential in
particular from the two companies' combined, highly efficient and globally
positioned sales organization.
Peter Arnoth, CEO of cyan, said as follows: "We are very pleased that
Novomatic has decided in favor of our offer. Since we already know I-New
well as a technology and licensing partner and since that company has been
one of our most promising cooperating partners in the past, we are aware of
the immense potential of this merger. With the acquisition of I-New, our
innovative cyber-security technology will now be used in all of I-New's 40
MVNO installations worldwide. At the same time, like us, I-New has a
well-filled pipeline of potential new customers, so the combined group is
poised for strong growth."
Michael Sieghart, CFO of cyan, stated as follows: "In the course of our
existing business relationship, we quickly realized how much I-New's
business model complements ours. I-New saves us two years of development
work in operations, sales and global infrastructure. The synergy potential
should be significant in the short and medium term. Our current guidance
only contains this synergy potential very conservatively so far."
According to Markus Cserna, cyan's CTO: "I-New's technology is among the
most advanced and efficient that can be found in the BSS/OSS sector.
Combined with our innovative data optimization and security solutions, we
should have even greater success together."
Harald Neumann, CEO of Novomatic, stated as follows: "We are pleased that
I-New will remain in good hands after many years of development work and
significant investments. Cyan convinced us of the quality of its concept for
I-New and is also committed to the Austrian location. Furthermore, we can
imagine a future collaboration in the field of cyber-security between
Novomatic and cyan and are considering a cooperation in this area". ."
About cyan AG
cyan is a leading European provider of intelligent, white labeled IT
security solutions with more than 25 years of experience in the area of IT
security. cyan's holding company is based in Munich, Germany. The main
business areas of the company are mobile security solutions for the end
customers of mobile network operators and fixed line internet service
providers (MNO, ISP), mobile virtual network operators (MVNO), the insurance
and financial services sector and government institutions. cyan's solutions
can easily be integrated into the existing infrastructure of business
partners and introduced to the market via a revenue share model. In
addition, data protection is assured through full integration into the
customer's own network environment.
cyan operates its own research and development center and maintains close
links to universities, international research institutes, security,
financial and social organizations. This close collaboration ensures the
early recognition of trends and technical developments for integration into
cyan's products.
Further information is available at www.cyansecurity.com
Press Contact
Frank Ostermair
Better Orange IR & HV AG
Tel. +49 89 88 96 906 14
[email protected]
Investor Contact
cyan AG
Michael Sieghart, CFO
[email protected]
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10.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: cyan AG
Friedrich-Herschel-Strasse 5
80679 Munich
Germany
Internet: www.cyansecurity.com
ISIN: DE000A2E4SV8
WKN: A2E4SV
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Frankfurt (Scale), Stuttgart, Tradegate Exchange
End of News DGAP News Service
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