Audius AG acquired 51% stake in IT Competence Group SE (DB:3IT) from Navigator Equity Solutions SE.
audius AG acquired 51% stake in IT Competence Group SE (DB:3IT) from Navigator Equity Solutions SE (BST:NUQA) on March 15, 2019. In addition, call and put options were agreed with audius over the remaining three years for the remaining shares of around 22%. The cash inflow for Navigator Equity Solutions SE from the sale of the shares will total between 8.1 million and 9.7 million, depending on the business development of the IT Competence Group SE. audius will initially continue to manage the IT Competence Group as a separate strategic business unit within its group. The proceeds from the sale of the shares in IT Competence Group SE comprise the immediate purchase price, a purchase price upon exercise of the options and a loan repayment.
audius AG completed the acquisition of 51% stake in IT Competence Group SE (DB:3IT) from Navigator Equity Solutions SE (BST:NUQA) on March 15, 2019.