Economy, trade and finance: Cancom wants full control over Pironet



Cancom has held a majority stake in the IT company Pironet since 2013. By acquiring a share package, the Munich company now has a share of approximately 95.1 percent. This exceeded the threshold required for the transfer of the shares of the other Pironet shareholders to Cancom.

The level of compensation for the minority shareholders must be determined on a Cancom basis at a later date. The company expects total costs in the middle segment of several million. The company initially did not mention a date for the extraordinary shareholders' meeting, but stated that it would like to close the procedure no later than in the spring of 2019.

According to the company, full acquisition means a "long-sought milestone for Cancom to further transform the Group's structures into the strategic future cloud, managed services and software activities".


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