Ad-hoc: Sale of ACCURAT Planned / Focus on SAP
Stuttgart, 14. Februar 2008 – With the consistent implementation of its strategic realignment as a full-scale SAP service provider, the AC-Group is accelerating the expansion of its leading position on the SAP midmarket segment serving small to mid-sized businesses in regions where German is spoken. With this in mind, AC-Service AG intends to sell all of its shareholdings in ACCURAT Informatik GmbH. ACCURAT Informatik GmbH operates in the Human Resource Services segment and in 2006 posted sales of some EUR 10 million. Services are provided using a proprietary payrolling solution that primarily addresses the German market of non-SAP users. The company is headquartered in Dreieich near Frankfurt and reported a workforce of 95 full-time equivalents as at 31 December 2007. ACCURAT offices are located in Berlin, Leipzig and Rostock. Following the completion of last year's merger with its ACCURAT Consulting GmbH subsidiary, ACCURAT Informatik GmbH now represents AC-Service AG's entire Human Resource Services business division.
The letter of intent concluded with SD WORX (SD Diensten nv) of Antwerp on 14 February 2008 calls for the purchase of all the shares of ACCURAT Informatik GmbH at a price to be paid immediately in cash. The transaction, which is to be completed in the first half of 2008, is subject among other things to satisfactory results from the pending due diligence audit and to the signing of a detailed share purchase agreement with SD WORX.
After assessing other proposals, the board of directors of AC-Service AG decided to hold negotiations on concluding a share purchase agreement with this prospective buyer on an exclusive basis and for a limited period of time.