QSC already entitled to over 90 percent of INFO AG shares
- Successful tender offer
- Extended term of acceptance to end on July 26, 2011
- QSC and INFO AG intensify collaboration
Cologne, July 12, 2011. Following the regular term of acceptance for the voluntary public tender offer to the shareholders of INFO Gesellschaft für Informationssysteme AG (INFO AG) and including declarations of acceptance that have now been received, Cologne-based QSC AG is entitled to over 90 percent of the voting rights in the company. Pursuant to the requirements of the German Securities Purchase and Acquisition Act (WpÜG), INFO shareholders who have not yet accepted the cash offer of € 14.35 per INFO share are still entitled to retroactively offer their shares until 24:00h, July 26, 2011.
Thus far, the tender offer has been accepted for 577,205 INFO shares or 14.43 percent of the voting rights. QSC itself holds 2,805,085 INFO shares directly; this represents 70.13 percent of the INFO AG voting rights. In addition, INFO AG holds 251,403 treasury shares, which were already held by INFO AG prior to announcement of the public tender offer. Overall, QSC's holdings as of the regular term of acceptance, already total 3,633,693 INFO shares or 90.84 percent of voting rights.
QSC Chief Executive Officer Dr. Bernd Schlobohm notes: "The high acceptance rate underscores the attractiveness of our tender offer. We now want to develop QSC and INFO AG as quickly as possible into an integrated provider of ICT services for small and mid-size enterprises." To intensify collaboration, QSC Chief Financial Officer Jürgen Hermann has held the same function at INFO AG since July 1, 2011.
QSC - ICT solutions for small and mid-size enterprises
QSC AG, Cologne, is a service provider for voice and data communication, as well as the ICT services that build upon them. Established in 1997, the company has been focusing on small and mid-size business customers. QSC is the first provider to operate an Open Access platform, which unites a wide range of broadband technologies to offer national and international site networking, including Managed Services. QSC additionally supplies its customers and distribution partners with a comprehensive product portfolio that can be modularly adapted to every need. QSC was the first provider in Germany to build its own Next Generation Network (NGN), and therefore enjoys long years of experience in connection with IP-based telephony solutions, in particular. QSC AG has been listed on the TecDAX index since 2004. The QSC group employs a workforce of some 1,300 people.