Dorda and Nestor Nestor Diculescu Kingston Petersen, working with Heuking Kuhn Luer Wojtek’s Munich office, have advised Cancom on the acquisition of K-Businesscom and all its subsidiaries from shareholders Aluk Privatstiftung, Invest Unternehmensbeteiligungs Aktiengesellschaft, Raiffeisen, Franz Semmernegg, and Jochen Borenich. SCWP Schindhelm reportedly advised the sellers.
The transaction remains contingent on regulatory approval. According to Dorda, “the transaction was structured so that the consideration will be paid partly in cash and partly in shares of the listed Cancom. The value of the cash consideration is approximately EUR 165 million; in addition, financial liabilities of approximately EUR 37 million will be redeemed. As part of the consideration the existing shareholders will receive 3.5 million new Cancom shares with a market value of more than EUR 100 million, which will be created by way of a capital increase against contribution in kind.”
K-Businesscom is an Austrian ICT solutions and service provider with 1,650 employees, which generated revenues of around EUR 520 million and EBITDA of around EUR 28 million in the past financial year 2022/23. The company is active as a digital business engineer for IT and business consulting as well as software development in Austria, Germany, Switzerland, Romania, and the Czech Republic.
Cancom is a German IT systems provider with a focus on digital transformation, cloud computing, and IT security.
According to Dorda, “the merger results in one of the leading IT companies in the DACH region. The customers of both companies will benefit from the combined expertise in IT and digitalization solutions. The takeover will increase Cancom’s market presence in the DACH region and extensively expand its solution and service capacities.”
Dorda’s team included Partners Martin Brodey, Christian Ritschka, Heinrich Kuehnert, Bernhard Rieder, Nino Tlapak, Magdalena Brandstetter, and Bernhard Mueller, Counsel Andreas Seling, Senior Associates Katrin Antl, Ulrich Weinstich, Florina Thenmayer, and Magdalena Nitsche, and Associates Aleksandra Langer, Mirko Marjanovic, Petra Artner, Felix Zopf, Michael Hardt, Sebastian Stoeckl, Julia Huber, Florian Huegel, Diane Steindl, and Paul Traar.
NNDKP's team included Partner Adina Chilim-Dumitriu, Counsels Cristian Dranca and Alexandru Aman, and Associate Voica Lupascu.
Editor's Note: After this article was published, SCWP Schindhelm confirmed it had advised Invest Unternehmensbeteiligungs AG and Raiffeisen OOe Invest – the main shareholders of K-Businesscom. The firm's team included Partners Franz Mittendorfer, Sebastian Huetter, Clemens Harsch, and Michaela Nill and Counsels Thomas Rosenthaler and Dieter Duursma.
