Schöneck, 11 December 2012, With its planned takeover of the AWEK-Group, GK SOFTWARE AG will acquire the largest independent supplier of IT operational services for retailers and one of the company's key competitors in the area of POS solutions.
As the biggest independent supplier of 1st and 2nd level support services as well as nationwide field services to the German retail sector, the AWEK-Group ideally complements the GK SOFTWARE AG retail service offering. Furthermore, the AWEK Group sells software to several leading German retailers including Globus, bakery chain Kamps, book wholesaler KNV and Strauss Innovation, all of whom will be new customers for GK SOFTWARE. The AWEK-Group generated revenues of EUR 12.3 million in 2011.
The acquisition should comprises purchase of the company shares in both the AWEK-Group holding and AWEK GmbH and assumption of the AWEK-Group's financial liabilities. The parties agreed not to disclose the volume of the transaction. The completion of the transaction is planned for this year.
GK SOFTWARE AG
Waldstraße 7
08261 Schöneck
Deutschland
WKN 757142
ISIN DE0007571424
(End of the ad-hoc report)
