Claranova - Taking 100% ownership of the Internet business
Claranova is planning to buy out the minority interests in its Internet business for a total of €87.9m in a mixture of cash and equity. On completion, Claranova will own 100% of its Internet business (up from the current c 40% level), and the sellers will own 15.87% of Claranova. In our view, this is a positive move as it gives the company full control over the business while incentivising the new shareholders to continue to contribute to the success of the group.Avanquest Software and its subsidiaries are engaged in manufacturing and distributing of communication software. Co. markets its communication software through Original Equipment Manufacturer (OEM) agreements signed with international modem, computer and cellular phone vendors. Co. also sells its communication software "in shops" through a network of Resellers and, currently, on its Web sites. In addition to the software, Co. provides customers with the software medium (floppy disks or CD-ROM), and an electronics User Guide and online help, included with the product. Co.'s Customer Service department can also provide clients with technical assistance for its products.
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