SPIE signs a purchase agreement to acquire COMNET

- Strengthening of market position in Germany as leading multi-technical services provider
- Upgrading of skills in the area of Information and Communication Technology (“ICT”)

Essen, July 18^th, 2016 – SPIE GmbH, a fully-owned subsidiary of SPIE group, the independent European leader in multi-technical services in the areas of energy and communications, signed on July 13^th, 2016 a purchase agreement to acquire several companies of the COMNET group (“COMNET”). With this acquisition, SPIE further upgrades its skills in ICT, notably in unified communications, IT networks management as well as fire alarm or access control systems, and strengthens its current portfolio of services along with its regional presence in Germany.

COMNET was founded in 1991 and provides solutions and services in the areas of IT, telecommunications and security. With close to 160 highly qualified employees at eight locations in Germany, COMNET generated revenues of circa 30 million euros in 2015.

Markus Holzke, Managing Director of SPIE GmbH, said: “The acquisition of COMNET is the next step in the roll-out of SPIE’s tried-and-tested, successful business model in Germany. With COMNET’s skills and range of services, we are expanding our services spectrum in a number of areas including that of Unified Communications and Collaboration (UCC) and we are at the same time boosting our competence in the area of safety technology.”

Harald Eckhard, Managing Director of COMNET, adds: “I am delighted to have found in SPIE a responsible partner for our clients, business partners and the COMNET employees. Together, we will continue to develop our business, focusing on the future, and we will be able to offer our clients a broad range of services.”

The transaction is still subject to the approval of the German antitrust authorities.

Advisors:
Financial advisor: Deloitte, Marc Rauner
Legal advisor: Cleary Gottlieb Steen & Hamilton, Peter Polke