July 03, 2007 - Qurius finalized the acquisition of Cedilla Systems,
a leading UK supplier of Microsoft Business Solutions. Cedilla has
about 30 staff members and is located near Manchester. Its profitable
2006 turnover was 4 million euro. Cedilla has references and
exclusive distribution rights for the UK regarding the same Microsoft
Dynamics Waste Management & Recycling solution that Qurius already
distributes in a number of other countries.
One strong country organization
Qurius combines autonomous growth and acquisitions to expand its
European market leadership in Microsoft solutions and services.
"Cedilla and Qurius are active in the same market segments; together
we expand the geographical coverage in those sectors. The Waste
Management & Recycling solution is going to be one of our corporate
verticals we want to support in every country where we have a
presence. The combination of our current Dynamics AX activities with
Cedilla's strong Dynamics NAV business means a significant step
towards the number 1 position in Dynamics in the UK", says Qurius
director Tom Stolk, responsible for the international business.
Acquisition details
The acquisitions of Ibitec, Cedilla and Wilhelm + Zeller, with a
total turnover in 2006 of 17.5 million euro, have been paid with the
proceeds resulting from the shares issue of 22 June 2007 that
raised, after deduction of cost, a net amount of 33 million euros.
The fixed purchase price for these three companies amounts to a total
of 10 million euros. Furthermore, "earn-out" agreements have been
made with objectives for 2007 for a maximum total of 3.3 million
euro. Qurius has the choice to pay any such "earn-outs" either with
cash or with shares.
Cedilla Systems Ltd
Cedilla is one of the UK's leading Microsoft Gold Certified partners
for Business Solutions and ISV, staffed by certified professionals
dedicated to providing customized solutions, training and support
services on Microsoft Dynamics NAV. It has a vertical focus includes
Waste Management & Recycling, Metal, Professional Services and
Leisure. Cedilla was founded in 1991. Further information is
available on www.cedilla.co.uk.
Qurius N.V.
Qurius provides architecture, realization and systems management of
Microsoft technology based business and IT solutions, including
infrastructures. Qurius has over 900 staff members; its headquarters
are located in Zaltbommel, the Netherlands. Its offices in Belgium,
Denmark, Germany, Italy, the Netherlands, Norway, Spain, Sweden and
the United Kingdom serve over 2,300 clients. Qurius has been publicly
listed on Euronext Amsterdam since 1998. On 18 December 2006, Qurius'
shareholders authorized the merger with Watermark, which created
Europe's largest Microsoft Dynamics partner. For further information,
see www.qurius.com.
Contact
Qurius, Fred Hermans: telephone +31 (0)418 683 500 or
fred.hermans@qurius.com.
