DGAP-News: Fabasoft AG / Key word(s): Investment
Fabasoft AG today signed a purchase and participation agreement for the acquisition of a majority stake in 4teamwork AG, based in Bern. After full implementation of the contract, Fabasoft AG will hold 70% of the shares in the new Fabasoft 4teamwork AG.
The participation will take place in several steps. First, the indirect acquisition of existing shares of 21.7% from the previous majority shareholder is planned. At the closing, a capital increase is to take place, which will increase Fabasoft AG's share in 4teamwork AG to approximately 58.5%.
This is to be followed by a merger with Fabasoft Schweiz AG, which in turn will result in Fabasoft AG holding a 70% stake in the new Fabasoft 4teamwork AG.
The closing of the transaction is subject to customary closing conditions and is expected to occur in mid-October 2022. Work on the implementation of the Closing Conditions is already in progress.
The previous CEO of 4teamwork AG, Dr. Pascal Habegger, will retain a 30% stake in Fabasoft 4teamwork AG and will promote further expansion in his existing role.
Software company with a focus on the digital transformation in the public administration
4teamwork AG was founded in 2003 and has become established as one of the key IT service providers for the public administrations of cantons, towns and municipalities in Switzerland under the leadership of the IT specialist and renowned expert for cloud and e-government solutions, Dr. Pascal Habegger.
The company currently has more than 30 employees at three locations and recently achieved a turnover of approximately four million francs.
“Its great expertise in the digital transformation combined with local sales and management capacities make 4teamwork AG the ideal solution partner in the Fabasoft Ecosystem for business activities in Switzerland”, explains Dipl.-Ing. Helmut Fallmann, CEO of Fabasoft AG, who is more than pleased with the potential for growth on the Swiss market with its new strategic partner. Fabasoft is also present in the Swiss canton administration with its software products for digital administrative work.
“Fabasoft is technologically and strategically very well positioned and rightly enjoys a high reputation as a leading European software company and highly certified cloud service provider. Together with the innovative technologies of Fabasoft and the high market presence of 4teamwork, we will be able to perform even better on the Swiss market in the interests of our customers”, says Dr. Pascal Habegger, expressing his confidence in the success of the joint strategic orientation with Fabasoft.
Fabasoft is one of the leading software product companies and cloud service providers for digital document, process and records management in Europe. With a unique, powerful ecosystem, Fabasoft implements customer-specific business applications and industry solutions. Numerous well-known private enterprises and public-sector organisations have trusted in the quality and experience of Fabasoft for more than three decades.
Fabasoft AG (ISIN AT0000785407; security identification number 922985; Bloomberg Code FAA GY; Reuters Code FAAS.DE)
Linz, 2 September 2022
Klaus Fahrnberger, Investor Relations Manager
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02.09.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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