trending Market Intelligence /marketintelligence/en/news-insights/trending/fKHqr12Ik-aRtMPPAiGyiQ2 content esgSubNav
In This List

Report: German IT services provider Cancom explores options amid buyout interest

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Using ESG Analysis to Support a Sustainable Future


Report: German IT services provider Cancom explores options amid buyout interest

Recent takeover approaches for Cancom SE have prompted the Munich-based IT services company and its biggest stockholder to evaluate options, Bloomberg News reported, citing people with knowledge of the matter.

"We have repeatedly received expressions of interest in Cancom and continue to weigh our options in the best interest of the company and its shareholders," the news outlet quoted co-founder Klaus Weinmann as saying by phone Sept. 16.

EQT Partners AB, Permira Advisers Ltd. and other private equity firms that have invested in the European technology market, as well as Cancom's bigger peers such as CDW Corp., Germany-based Bechtle AG, or a unit of Japan-based Nippon Telegraph and Telephone Corp., could be among the prospective buyers, the people reportedly said.

Suitors have held preliminary talks about a transaction, although their interest diminished as the company's share price continued to rise, the people told Bloomberg. Shares of Cancom surged more than 5% to €53.75 on Sept. 16.

Bechtle CEO Thomas Olemotz said in an email that his company is not engaged in any discussions with Cancom about a potential takeover, the news outlet noted.

None of the representatives for EQT, NTT, Permira and Cancom commented on the matter, while a representative for CDW did not respond to requests for comment, according to Bloomberg.