- Acceptance below minimum threshold of 75 percent at end of acceptance period
- No agreement with major Easy Software shareholders
Munich, August 27, 2012 – Allgeier SE (“Allgeier”) does not pursue its voluntary public takeover offer to Easy Software AG (“Easy Software”) shareholders, as the prerequisite quorum of 75 percent was not achieved at the end of the acceptance period. Allgeier had tied the offer to this strategic hurdle right from the beginning. The voluntary public takeover offer expired according to the offer document with the end of the acceptance period on Tuesday, August 21, 2012 at 24:00 hours (Frankfurt am Main, Germany, local time).
While this strategically sound and value-adding step of combining both companies could not be completed this way, Allgeier remains available as a potential partner for Easy Software in the future and is open for alternative solutions.
Dr. Marcus Goedsche, Management Board member of Allgeier, said: ”Although this result is unfortunate, we had to take this outcome into account right from the start. We are still convinced a combination of both companies’ business activities is reasonable. Regardless, we will continue on our growth path and utilize other ways to expand our range of services.”
Until last, Allgeier management negotiated with the major shareholders of Easy Software and considered all possible options. An agreement could not be reached due to significantly different views of some Easy Software shareholders.
Munich-based Allgeier is one of the leading consulting and service companies for IT solutions and services in the German-speaking region. In 2011, Allgeier generated revenues of about 380 million Euros. Easy Software, based in Mülheim an der Ruhr, Germany, is one of the leading developers and providers of cross-platform solutions in the areas of electronic archiving, document management, and Enterprise Content Management (ECM). Easy Software achieved revenues of 27 million Euros in 2011.