Company announcement no. 2/2021 Columbus completes the divestment of To-Increase |
With reference to company release no. 19/2020 of
The divestment of To-Increase is part of Columbus’ new strategic direction to become a global consultancy and digital advisory company. The decision led Columbus to explore the opportunities to identify a buyer of To-Increase with a more aligned strategy and in a better position to realize the full potential of To-Increase.
The Focus23 strategy entails a more focused and simplified operation with increased customer centricity and a more digital advisory approach with the goal of unleashing the full growth potential and make it possible to gradually increase profitable growth to minimum 10% annually in 2023.
Columbus is committed to support and resell
“I would like to thank Gilde for the good cooperation during the negotiation and closing of the agreement, and I am sure that Gilde is the right match for taking To-Increase to the next level. Columbus’ has already initiated the execution of the Focus23 strategy which focuses the business on becoming a digital trusted advisor for our larger customers. I am convinced that our new strategic direction entails great potential for Columbus’ customers, employees and shareholders”, says Ib Kunøe, Chairman of the Board in Columbus.
The total net proceeds of
Following completion of the divestment of To-Increase the Board of Directors has resolved that it intends to propose for a distribution of a substantial part of the net proceeds as either cash dividends (as an extraordinary dividend), launch of a share buy-back program, or a combination thereof. The Board of Directors will conduct a further analysis of the distribution amount and method and will include its specific proposal in the Annual Report 2020, which is scheduled to be released on
Financial implications and outlook
The divestment will not affect the announced expectations for revenue and EBITDA for 2020 for the continued business.
The outlook for 2021 will be presented in the Annual Report 2020, which will be published on
Ib Kunøe
Chairman of the Board Interim CEO & Corporate CFO
About Columbus
Columbus is a listed international IT service and consultancy headquartered in
About
For further information, please contact: Interim CEO & Corporate CFO, |
Attachment
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