14 November 2017 – 20:00 CET
Keyware divests its stake in the company Congra Software SARL
Brussels, Belgium – 14 November 2017 – Keyware (EURONEXT Brussels: KEYW) divests its stake in the company Congra Software SARL.
Keyware Smart Card Division SA has sold its participation of 1.74 % in the company under Luxembourg law Congra Software SARL. Congra Software SARL is the holding company of the Hybrid Software Group. The activity consists of order lifecycle management. The proposed software is a solution for the MIS systems, the web-to-print portals and the prepress workflow. Besides Belgium, the Group is also established in Germany, Italy and the United States. More information is available on www.hybridsoftware.com .
Keyware Smart Card Division SA received the opportunity to divest its stake of 1.74% in Congra Software SARL, which was not considered to be strategical, to a third party outside of the Group. The participation was initially acquired in September 2015 and rose to 400 kEUR after a capital increase in September 2016.
The consideration amounts to 597 kEUR. The sales price has been set at arm’s length as it is the price at which other shareholders of Congra Software SARL could have sold. As a result, this divestment generates a capital gain of 197 kEUR.
Keyware (EURONEXT Brussels: KEYW) is a leading supplier of electronic-payment solutions, loyalty systems, identity applications and related transaction management. Keyware is located in Zaventem, Belgium, and more information is available on www.keyware.com .
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