+++ Press release +++
German Startups Group – Significant revenue growth expected within first half of the year
- – Extension of the term of the running public share repurchase tender offer
Berlin, 14 June 2019 – German Startups Group, a leading venture capital provider in Germany and Berlin-based digital agency with 150 employees, expects a significant revenue growth of more than 30% vs. 1H18 within the first half of the year 2019 for its fully consolidated majority holding, the Exozet group, and, therefore, its own profit and loss account, too. The order situation for the second half of 2019 is also very good. German Startups Group had invested in the Exozet group through various tranches, especially in the years 2014 – 2015. Since then, Exozet has grown significantly. As announced in 2018, German Startups Group still takes into consideration to sell its stake of 50,7% in Exozet in 2019 but has not yet resolved any resolutions on that matter. The management of German Startups Group unalteredly and, regarding the very positive business development, increasingly expects the sales proceeds to be significantly higher than the acquisition costs and the book value of the holding. A change of shareholder for the stake of German Startups Group would have no impact on the employees, customers or projects of Exozet.
Stockholders of German Startups Group are hesitating to make use of its public share repurchase tender offer, made by the company on 22 May 2019, up until now. Hence, the company extends the term for the acceptance of the public share purchase offer until 8 July 2019 12:00 pm CET.
Investor Relations Contact
German Startups Group
German Startups Group – We Love Startups!
The German Startups Group, a publicly traded company comprises one of the leading VC providers in Germany with a digital agency employing 150 staff in Berlin. With a focus on Germany’s young, fast growing companies – so called startups – the company acquires majority and minority shareholdings by providing venture capital. The core investment focus is on those tech companies whose products or business models include disruptive innovation, allow for a high degree of scalability and are run by strong entrepreneurial management teams. Since it commenced operations in 2012, German Startups Group has built a diversified portfolio of stakes in such companies and has become the most active private venture capital investor in Germany (CB Insights 2015, Pitchbook 2016). With the launch of G|S Market™ via a wholly owned subsidiary German Startups Market GmbH, the company operates a secondary market platform for tech assets
More information at http://www.german-startups.com/.