DGAP-News: cyan AG / Key word(s): Takeover
cyan AG: Successful closing of the acquisition of a majority stake in I-New Unified Mobile Solutions AG
According to current forecasts, cyan AG expects significant revenues and earnings effects as early as 2018 as well as significant synergy potentials from the transaction, which are to be exploited within the next 24 months. In particular, through the acquisition of I-New, cyan will be able to significantly expand its international reach of MVNOs and should save up to two years compared to a gradual development of the market with its own customer acquisition activities. The kick-off for the implementation of the integration plan will already take place on Monday, 6 August 2018. The integration project primarily provides for nine different project streams in order to complete the integration of I-New operationally as quickly as possible. The integration project is led by Michael Sieghart, CFO of cyan AG, and Dr. Markus Schachner, who comes on board as Chief Integration Officer. Ambitious milestones have been defined; the integration should be completed by the end of the first half of 2019 at the latest.
Peter Arnoth, CEO of cyan AG: "Since the signing, we have been intensively preparing for the integration of I-New and have already defined a very clear functional organizational structure and the individual project streams. Now we will form project teams consisting of cyan and I-New employees to bring the best of both worlds to the road with maximum speed and efficiency."
Based on the combined revenues expectations, cyan expects pro forma revenues of at least EUR 20 million in 2018 and at least EUR 35 million in 2019, with EBITDA of at least EUR 7 million in 2018 and at least EUR 20 million in 2019 generated by the Group on a cautious planning basis and with only conservative synergy effects.
About cyan AG
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|
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