January 2019: I-ADVISE AG acted as court-appointed auditor in the context of the intended transfer of the shares of the minority shareholders of Pironet AG, Cologne, to CANCOM SE, Munich (squeeze-out).
In the Extraordinary General Meeting of Pironet AG on January 10, 2019 CANCOM SE as the majority shareholder of Pironet AG filed the motion to transfer the shares of the minority shareholders to CANCOM SE in return for a cash settlement of € 9.64 per Pironet share.
About Pironet AG
Via its wholly owned subsidiary, CANCOM Pironet AG & Co. KG, Pironet AG is the multi-cloud provider of the Munich-based CANCOM Group and offers its customers a wide range of IT outsourcing services. The ISG Experton Group estimates that CANCOM Pironet was among the top 10 cloud providers in the German B2B market in 2016. With around 250 employees, Pironet AG achieved sales of around € 56 million in 2018.
About CANCOM SE
CANCOM SE as one of the leading providers of IT infrastructure and IT services in Germany, Austria, USA and the United Kingdom is listed on the TecDAX and SDAX of the Frankfurt Stock Exchange. CANCOM group´s holistic product and service range includes IT consulting, design of IT architectures and IT landscapes, conceptual design and integration of IT systems, operation of IT systems, and sales of hardware and software.
The more than 3,000 employees worldwide generate annual sales of over € 1 billion.
I-ADVISE was responsible for ensuring the adequacy of the compensation of the minority shareholders of Pironet AG. In a comprehensive audit report, I-ADVISE confirmed the compensation determined by a valuation report.