0
IT

S&T buys 55.5% of Citycomp for EUR 6 mln

Thursday 2 July 2020 | 09:22 CET | News
Austrian IT company S&T has acquired 55.5 percent of the multi-vendor service provider Citycomp Service for EUR 6 million, including subsidiaries in Austria and Switzerland. The 55.5 percent stake was held by two shareholders who are no longer involved in the management of the company or will be involved in the future. The remaining 44.5 percent stake is in the hands of the managing partners and is subject to mutual option agreements depending on future EBITDA. The transaction is expected to be completed in the third quarter of 2020. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: IT
Companies: S&T Austria
Countries: Austria / Germany
::: add a comment
This article is part of dossier

Coronavirus


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

S&T grows revenues, operating cash flow in Q2 despite pandemic impact

Published 06 Aug 2020 10:52 CET | Austria
Austrian technology group S&T said its revenues increased by 8 percent to EUR 268.6 million in Q2 despite the impact of the ...

Swiss IT Security acquires Electronic Service Center

Published 03 Jun 2020 09:52 CET | Switzerland
Swiss IT Security has announced the acquisition of Electronic Service Center (ESC), a provider of IT security and managed ...

Ewe completes sale of 26% stake to Ardian

Published 02 Mar 2020 09:33 CET | Germany
German regional operator Ewe said that it has completed the sale of a 26 percent stake to private equity firm Ardian. The parties ...

Telefonica unveils plan to spin off LatAm business and prioritise Spain, Brazil, UK, Germany

Published 28 Nov 2019 09:23 CET | Brazil
Telefonica has announced a major organisational restructure following a meeting of its board of directors. The company's 5-point ...

Mediaset raises stake in Germany's ProSiebenSat.1 to over 15%

Published 12 Nov 2019 11:19 CET | Germany
Italian commercial broadcaster Mediaset has announced the acquisition of a further 5.5 percent stake in German counterpart ...