The IGE+XAO Group announces:
The takeover of its Danish distributor
The IGE+XAO Group announces that it has taken over the software distribution company IGE+XAO Danmark A/S formerly CADdy Danmark A/S. The Group, which has held 49% of the company since 2001, has now purchased the remaining 51% of the share capital. Thanks to the IGE+XAO's strong self-financing capacity, this transaction took place without recourse to debt.
Like the Group, IGE+XAO Danmark A/S has both solid fundamentals and a 1st rate position in its territory with over 5,000 installed licenses, 1.2 million euros in turnover, net cash flow of 1.4 million euros and an operating profitability of more than 25%.
This acquisition allows the Group to strengthen its position in Europe, in particular in Northern Europe, which represents a market that is dynamic and that has a high potential. IGE+XAO as such intends to extend its leadership to Denmark and accelerate penetration into the Swedish and Norwegian markets.
Over the year 2014, IGE+XAO will continue its proactive strategy internationally with the opening of a distribution subsidiary in Mexico and a sales office in Russia.
ABOUT THE IGE+XAO GROUP
For over 27 years, the IGE+XAO Group has been a software publisher designing, producing, selling and ensuring the maintenance of a range of Computer-Aided Design (CAD) software. These Electrical CAD software applications have been designed to help manufacturers design and maintain the electrical section of any installation. IGE+XAO has built a complete range of Electrical CAD software applications designed for all industry fields. The IGE+XAO Group has 373 employees spread out in 26 locations and 17 countries. With 70,000 licenses sold throughout the world, IGE+XAO is a reference in its domain. For more information, visit http://www.ige-xao.com
CONTACTS IGE+XAO
IGE+XAO Group, 25 Boulevard Victor Hugo - BP 90312 - 31773 Colomiers cedex - France
Phone: +33 (0)5 62 74 36 36 - Fax: +33 (0)5 62 74 36 37 - www.ige-xao.com
Listed on NYSE Euronext Paris - Compartment C - ISIN FR 0000030827
Analysts/ Investors contact: Alain Di Crescenzo (Chairman of the Group): +33 (0)5 62 74 36 36
Press contact: Rozenn Nerrand-Destouches: +33 (0)5 62 74 36 02
