A team led by Boris Dürr advised CANCOM SE on the acquisition of The Organised Group Ltd, parent company of UK-based IT solution provider OCSL. The total volume of the transaction is about EUR 32 million, of which some EUR 29 million will be paid in cash. For the remainder, OCSL executives who will continue to work for the company will receive 12.5% of the shares in the acquiring UK subsidiary of CANCOM SE. Heuking Kühn Lüer Wojtek advised on the transaction jointly with UK-based law firm Stevens & Bolton LLP.
OCSL is a UK provider of cloud and on-premise IT solutions. With more than 200 employees, the group generated sales in excess of EUR 78 million in the last fiscal year.
OCSL will serve as the future base for the activities of CANCOM group in the United Kingdom. Synergies are set to be exploited by combining the product portfolios, capabilities, and partner relationships of OCSL and CANCOM. The acquisition makes CANCOM group a key player in the country’s IT market.
CANCOM SE is a globally operating, listed provider of IT infrastructure and IT services with consolidated sales of well over EUR 1 billion and almost 3,000 employees. As a digital transformation partner, the Munich-based company accompanies enterprises into the digital future. Its range of solutions includes consulting, implementation, and services.
Most recently, Heuking Kühn Lüer Wojtek advised CANCOM SE on the acquisition of UCC and managed services provider Ocean Intelligent Communications in spring 2018, which now operates under the name CANCOM Collaboration and Communication.
Counsel to CANCOM SE
Heuking Kühn Lüer Wojtek:
Boris Dürr (Lead, M&A),
Marcel Greubel (Corporate/M&A),
Christian Schild, LL.M. (M&A),
Astrid Wellhöner, LL.M. (Employment)
Dr. Reinhard Siegert (Antitrust/Distribution)
Dr. Ruth Schneider (Antitrust/Distribution), all Munich