10.07.2018
cyan AG DE000A2E4SV8
DGAP-Adhoc: cyan AG acquires majority stake in I-New Unified Solutions AG, significantly expanding its international reach to Mobile Virtual Network Operators (MVNOs)
DGAP-Ad-hoc: 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-Jul-2018 / 15:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
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)
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) with 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.
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 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.
Person making the notification:
Michael Sieghart, CFO
cyan AG
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Information and Explanation of the Issuer to this News:
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-Jul-2018 CET/CEST 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 Announcement DGAP News Service
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703203 10-Jul-2018 CET/CEST
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