cyan AG is selling the operations of I-New Unified Mobile Solutions GmbH as part of an asset deal. In addition, the I-New subsidiaries are sold by a share deal.

cyan AG / Key word(s): Disposal
cyan AG is selling the operations of I-New Unified Mobile Solutions GmbH as part of an asset deal. In addition, the I-New subsidiaries are sold by a share deal.

19-Dec-2023 / 18:16 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


cyan AG is selling the operations of I-New Unified Mobile Solutions GmbH as part of an asset deal. In addition, the I-New subsidiaries are sold by a share deal. 

Munich, December 19, 2023 – cyan AG today concluded an agreement with Compax International Holding GmbH on the sale of the operations of I-New Unified Mobile Solutions GmbH as part of an asset deal. Compax International Holding GmbH has also acquired the respective subsidiaries of I-New Unified Mobile Solutions GmbH. With this sale, cyan AG wants to focus more strongly on its high-growth core business in the cybersecurity market and to use the proceeds from the sale to strengthen its cash position and product development. At the same time, the sale of the BSS/OSS segment to the telecommunications specialist Compax marks the beginning of a close strategic partnership.

The purchase price is in the mid-single-digit million range. In addition, an earn-out has been agreed with the buyer, which may further increase the purchase price over the next four years. The closing of the transaction is scheduled for December 31, 2023 and is expected to become effective on January 1, 2024.

Communicating person:

Markus Cserna, CTO

 

cyan AG Investor Contact:

cyan AG

Tel. +49 89 71042 2073

E-mail:

 

cyan AG Press Contact:

Better Orange IR & HV AG

Tel. +49 89 88 96 906 17

E-mail:

End of Inside Information


19-Dec-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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