AvW Management-Beteiligungs AG
AvW increases investment in Cancom to more than 20 per cent
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The Austrian investment group AvW has increased its investment in the German IT company Cancom (COKG.DE) to more than twenty per cent. "We have taken advantage of the weak market of the past few days and selectively acquired new investments", says Wolfgang Auer von Welsbach, chairman of the AvW Management Board. Only a few days ago, Cancom presented excellent half-year figures and affirmed its growth targets for the current financial year.
One of AvW´s key goals is to continually extend and develop its portfolio of equity holdings. The IT sector in Germany and Austria is of particular importance in this respect. "As we have the capital at our disposal, we want to and will further expand our existing portfolio", says Mr. Auer von Welsbach. Even at present, AvW is one of the most important IT investment companies in Europe. The AvW portfolio includes, among other investments, a share of 25 per cent in S&T (SNTS.VI), 20 per cent in Cancom, 14 per cent in Realtech (RTCG.DE) and 10 per cent in Nextevolution (N5EG.DE).
About CANCOM: The CANCOM Group, founded in 1992, is one of the leading suppliers of IT infrastructure and services. CANCOM is one of the largest IT companies in Germany and offers its customers a comprehensive range of IT products and services. As one of the most important partners of HP, Microsoft, Symantec, Citrix, Apple and Adobe in Germany, CANCOM has significant core expertise as a provider of complete and integrated solutions in the IT sector. The CANCOM Group employs approximately 1,300 staff at over 20 locations in Germany, Austria, Switzerland and the United Kingdom. Of these, around 900 are employed in the field of IT services.
About Auer von Welsbach Gruppe AvW Gruppe is an Austrian investment company focusing on small caps in Austria, Germany, Asia and Australia. AvW participating certificates (AVWIga.F, ISIN AT0000703269) of the AvW Group are listed on the Frankfurt Stock Exchange. More information about AvW is available on the Internet at www.avw.eu.
end of announcement euro adhoc 06.08.2007 09:00:00
Further inquiry note:
AvW Gruppe AG
Mag. Brigitte Burger
Investor Relations
Tel.: 04229/3621-24
mailto:b.burger@avw.at
Branche: Economy, Business & Finance
ISIN: AT0000703269
WKN: 763759
Börsen: Börse Frankfurt / free trade