DGAP-News: cyan AG: Successful closing of the acquisition of a majority stake in I-New Unified Mobile Solutions AG

cyan AG: Successful closing of the acquisition of a majority stake in I-New Unified Mobile Solutions AG

Munich / 31 July 2018. cyan AG, a leading European provider of innovative white label IT security solutions for end customers of telecommunications providers (MNO/MVNO), banks and insurance companies as well as gaming and cryptocurrency platforms, successfully closed the acquisition of 76.81 % of I-New Unified Mobile Solutions AG ("I-New"), a leading provider of technology and service solutions and MVNO platforms, as planned as of 30 July 2018. cyan has acquired the shares from the Austrian Novomatic AG. The total volume of the transaction amounted to EUR 17.1 million. A further 4.9 % of the shares in I-New were acquired by existing shareholders of cyan AG on the same terms on the same day. This means that cyan AG now directly and indirectly holds 81.71 % of the shares in I-New.

According to current forecasts, cyan AG expects significant revenues and earnings effects as early as 2018 as well as significant synergy potentials from the transaction, which are to be exploited within the next 24 months. In particular, through the acquisition of I-New, cyan will be able to significantly expand its international reach of MVNOs and should save up to two years compared to a gradual development of the market with its own customer acquisition activities. The kick-off for the implementation of the integration plan will already take place on Monday, 6 August 2018. The integration project primarily provides for nine different project streams in order to complete the integration of I-New operationally as quickly as possible. The integration project is led by Michael Sieghart, CFO of cyan AG, and Dr. Markus Schachner, who comes on board as Chief Integration Officer. Ambitious milestones have been defined; the integration should be completed by the end of the first half of 2019 at the latest.

Peter Arnoth, CEO of cyan AG: "Since the signing, we have been intensively preparing for the integration of I-New and have already defined a very clear functional organizational structure and the individual project streams. Now we will form project teams consisting of cyan and I-New employees to bring the best of both worlds to the road with maximum speed and efficiency."

Based on the combined revenues expectations, cyan expects pro forma revenues of at least EUR 20 million in 2018 and at least EUR 35 million in 2019, with EBITDA of at least EUR 7 million in 2018 and at least EUR 20 million in 2019 generated by the Group on a cautious planning basis and with only conservative synergy effects.

About cyan AG
cyan is a leading European provider of intelligent, white labeled IT security solutions with more than 25 years of experience in the area of IT security. cyan's holding company is based in Munich, Germany. The main business areas of the company are mobile security solutions for the end customers of mobile network operators and fixed line internet service providers (MNO, ISP), mobile virtual network operators (MVNO), the insurance and financial services sector and government institutions. cyan's solutions can easily be integrated into the existing infrastructure of business partners and introduced to the market via a revenue share model. In addition, data protection is assured through full integration into the customer's own network environment.
cyan operates its own research and development center and maintains close links to universities, international research institutes, security, financial and social organizations. This close collaboration ensures the early recognition of trends and technical developments for integration into cyan's products.
Further information is available at www.cyansecurity.com

Press Contact
Frank Ostermair, Better Orange IR & HV AG
Tel. +49 89 88 96 906 14, frank.ostermair@better-orange.de

Investor Contact
cyan AG
Michael Sieghart, CFO
michael.sieghart@cyansecurity.com