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exceet Group SCA signed an agreement with Kontron AIS GmbH, a subsidiary of Kontron AG, for the sale of its portfolio company Lucom GmbH Elektrokomponenten & Systeme ("Lucom"). Lucom is a full service provider of smart IoT and M2M devices, software and safety products.
The transaction is not subject to any conditions and is expected to complete on 1 September 2022. The agreed sales price is EUR 5 million and increases the cash and cash equivalents less transaction costs of the exceet Group to around EUR 117 million.
Since announcement of the sale process at the end of June 2021, exceet has reported Lucom as "discontinued operation" in accordance with the IFRS accounting standards.
With the sale of Lucom, the exceet Group has sold its last remaining operating business and is currently focusing on reinvesting the available liquid funds.