Corporate news on complete takeover of EASY Solutions of Salzburg, Austria
Mülheim an der Ruhr (Germany) , September 14, 2010 – On September 9, 2010, EASY SOFTWARE AG, noted on the General Standard of the Frankfurt Stock Exchange (ISIN DE0005634000, Ticker: ESY), took over another 30% of shares in its Austrian subsidiary EASY SOLUTIONS Archivierungs- und Informationssysteme GmbH of Salzburg. The previous shareholdings by EASY SOFTWARE AG amounted to 70%.
EASY SOLUTIONS emerged as an EASY distributor in 1994 to install a partner sales & distribution channel covering Austria. Since the financial year 2005 it has been fully consolidated within the consolidated financial statement of EASY SOFTWARE AG. In tandem with its partners, EASY SOLUTIONS has previously implemented about 60000 customer installations in Austria. In the first half of 2010, EASY SOLUTIONS achieved a net income for the period amounting to EUR 45 thousand, with sales amounting to EUR 445 thousand.
Commenting on the takeover, Gereon Neuhaus, CEO of EASY SOFTWARE AG, says: “Since initial consolidation within the EASY Group, our Austrian subsidiary has continuously achieved positive contributions to earnings at increasing profit margins. Increasing the shareholdings to 100% is another component of our consolidation strategy that will contribute towards improving our return on sales, as well as towards continued positive development of the EASY Group. Moreover, the complete takeover of EASY SOLUTIONS offers us an excellent basis for further expansion of business in Austria and Eastern Europe.”