Luxembourg, 30 September 2016 – 06:30 p.m. – exceet Group (“exceet”) signed today a sales and purchase agreement in regard to the divestment of its ID Management & Systems (“IDMS”) segment. IDMS has been acquired through a Management-Buy-Out (MBO) by Mr. Robert Wolny (COO IDMS) and Mr. Ulrich Reutner (former CEO of the Group). The shares of exceet Card Group are held by the Visioncard Holding GmbH which is owned 100% by them. The transaction is signed and closed as of today. The parties agreed not to disclose the transaction value.
During the divestment process, administered by an independent investment bank, the Group identified the necessity for an additional impairment related to the current IDMS segment. The MBO provides a good economical and organizational solution, with a quick and smooth transition of the IDMS organization. Starting 1 October 2016 Mr. Robert Wolny and Mr. Ulrich Reutner are not active anymore for the exceet Group.
exceet will further focus more on the activities in smart and secure electronics and wishes the exceet Card Group all the best for the future.
Please contact for further information:
Wolf-Günter Freese, acting CEO & CFO – Email: Investor.relations(at)exceet.lu
exceet Group SE
115, avenue Gaston Diderich
Phone +352 26 29 91 22
ISIN LU0472835155 (Public Shares), Regulated Market, Prime Standard, Frankfurt/Main
exceet will announce the 3Q results for 2016 on 7 November 2016 (after closing of the market)
exceet is an international technology group, which is specialized in the development and production of intelligent, complex and secure electronics.
About exceet Card Group
exceet Card Group AG combines the strengths of global leaders of RFID, dual interface and chip card manufacturing. The Group‘s innovative product portfolio extends to design, development, consulting, production, personalization and lettershop, making it one of the leading full-service providers of smartcards, NFC solutions and readers. In the mobile solutions area, the exceet Card Group offers mobile services, identity safeguards, secure payment solutions, authentication of online services and cloud computing access.
Source: Exceet Card Group