DGAP-News: EQS Group AG
/ Key word(s): Takeover/Strategic Company Decision
30.11.2020 / 12:20
The issuer is solely responsible for the content of this announcement.
EQS Group AG acquires Got Ethics A/S
Expansion of market position before introduction of the EU whistleblower directive
Munich - 30 November 2020
EQS Group AG (ISIN: DE0005494165) acquires 100 percent of the shares in Got Ethics A/S, based in Copenhagen, at the beginning of the new year. The purchase agreement to acquire the whistleblowing SaaS provider was signed today. The agreement gives EQS Group AG the perfect position to become Europe's leading cloud provider for whistleblowing systems.
Since its founding in 2010 Got Ethics A/S has specialised in the operation of whistleblowing systems, making it one of the pioneers in Europe. With the help of a reporting system, employees, customers and suppliers can anonymously and securely report any irregularities in companies and organisations. Got Ethics A/S serves over 500 customers and employs 17 people in 4 European locations. Customer growth has been at least 30 percent annually over the last four years. The company currently generates annual recurring revenues (ARR) of approximately EUR 2 million.
The initial purchase price is EUR 10 million with the final amount depending on earn-out components over a term of 24 months. The transaction is financed by an acquisition loan from Commerzbank Munich.
Achim Weick, CEO of the EQS Group AG stated: "We are very proud that the founders of Got Ethics have decided to work with us to set new standards for the protection of whistleblowers. This acquisition is part of our marketing and sales offensive in light of the forthcoming EU regulation. Together, we can make better use of the opportunities to gain as many new customers as possible."
Got Ethics A/S was founded by Peter Dagø (CEO) and Jesper Dannemann (COO), both of whom will continue to hold responsible positions within EQS Group AG. The customer base includes numerous SMEs as well as international corporations.
Peter Dagø, CEO of Got Ethics A/S commented: "An exciting and at the same time challenging task lies ahead of us. Most companies in the European Union will be considering the introduction of a whistleblower system for the first time. After the not always easy pioneering work over the last 10 years, we can now set a new standard together with EQS Group AG in accordance with our values and contribute to more integrity and transparency in Europe."
The EU Directive 2019/1937 stipulates the mandatory introduction of an internal reporting channel for companies with 250 or more employees at the end of 2021 and 50 employees from the end of 2023. The acquisition of Got Ethics A/S significantly strengthens the EQS Group AG's market position and creates the perfect starting point to achieve high market penetration in the establishment of whistleblower systems in the coming year.
Receive news from EQS Group AG free of charge on your mobile device: via DGAP News App directly to your AppleWatch or iPhone (http://newsapp.dgap.de/).
EQS Group is a leading international provider of regulatory technology (RegTech) in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.
EQS Group's products are pooled in the cloud-based software EQS COCKPIT. They ensure the professional control of compliance workflows in the fields of whistleblower protection and case management, policy management, insider list management and disclosure obligations. In addition, listed companies benefit from a global newswire, investor targeting and contact management, IR websites, digital reports and webcasts for efficient and secure investor communications.
EQS Group was founded in 2000 in Munich, Germany. Today the group employs over 350 professionals and has offices in the world's key financial markets.
30.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
EQS Group AG
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID:
End of News
DGAP News Service