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Qurius NV and Prodware SA Agree in Principle to Transfer Qurius NV’s Operations to Prodware SA


Monday, 30 Jul 2012 08:00pm EDT 

Qurius NV (Qurius) and Prodware SA (Prodware) announced that they have entered into a binding term sheet with a view to effect the transfer of all operating companies of Qurius to Prodware. The proposed transaction provides for two steps. Step one provides for the transfer of the operating companies of Qurius in Germany and the United Kingdom to Prodware for an amount of EUR 6 million, payable in EUR 2.5 million in cash and the equivalent of EUR 3.5 million in listed shares of Prodware. Step two provides for the transfer of the Qurius Netherlands, Qurius Czech Republic and the QIPtree operations to Prodware for a total amount of EUR 12.5 million, of which EUR 1 million is payable in cash, EUR 2 million is payable in listed Prodware shares and the remainder is payable by means of the assumption by Prodware of EUR 9.5 million outstanding debts of Qurius. The integration of the Qurius activities with Prodware, assures Qurius' customers of continued services, products and availability of the customer specific knowhow that Qurius has accumulated. Prodware acquires the Qurius operations as they are, including all employees and customer contracts. 

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