REGULATED INFORMATION AND INSIDER INFORMATION – Crescent sells its IT services division for an increased focus on IoT
REGULATED INFORMATION AND INSIDER INFORMATION – Crescent sells its IT services division for an increased focus on IoT

REGULATED INFORMATION AND INSIDER INFORMATION – Crescent sells its IT services division for an increased focus on IoT

Leuven, België – 2 April 2024 – 7:30 CET, Crescent NV, Geldenaaksebaan 329, 3001 Heverlee (Euronext Brussels: OPTI)

Crescent announces that it enters into definitive and exclusive negotiations and due diligence processes with the Dutch TSH group regarding the sale of Its 2invision services company.

 

The transfer of ownership is scheduled to close during the month of May. The final valuation will be based on a multiplication factor of 6.5 to 7.5 x EBITDA.

 

Eric Van Zele commented: “This completes a journey of bringing financial stability and working capital funding to the former Option and Remoticom companies in pursuit of focused leadership in smart lighting, smart city and smart building applications.”

 

Crescent NV further confirms signature of a settlement agreement with LDA capital to end their financing contract of January 2021 through payment of € 325 k in penalty fees via 24 monthly
instalments over the next 2 years.

 

TSH is a Dutch market leader in ICT outsourcing with more than 1,200 employees generating annual revenues of more than €300 million. (https://tsh.eu/)

 

CONTACT

Edwin Bex
Geldenaaksebaan 329
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
E-mail: investor@option.com
www.crescent-ventures.com

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