Tell signed a letter of intent concerning the take-over of two companies in the sales outsourcing sector for more than PLN 23 million
The Tell Company dealing with sales outsourcing in the traditional channel for mobile telecommunications operators signed a letter of intent with OEX S.A. The subject matter of the letter is the commencement of negotiations between the parties aiming at the signature of a purchase contract of 100.00% shares of the Cursor Company and 51.03% shares of the Divante Company.
Cursor and Divante specialize in the sales outsourcing services in modern channels. If the takeover is successful, the Tell Group will acquire a number of new competences, which in combination with the current offer will allow for the creation of a new entity, a leader in the sales outsourcing market. Tell will be able to offer a broader range of services to mobile telecommunications operators, with whom it collaborates and customers from the existing portfolio of the acquired companies.
The planned takeover is part of a long-term strategy of the Company. – Our current business model has shown the limits of growth in recent years. Due to the decisions of the shareholders concerning the company’s dividend policy, the Company has so far not been able to implement the part of the strategy related to diversification. Today we already have this opportunity and are making a first clear step that will bring us closer to achieving this goal. The transaction will also provide tools for future implementation of new projects with a high growth potential – says Rafał Stempniewicz, President of Tell.
The companies Cursor and Divante together form three business lines – non-core logistics, sales & marketing services, and e-business. Cursor specializes in the design and implementation of complex sale and promotional processes as well as in logistics of marketing materials. It has a vast network of a few thousand field employees. It manages the biggest logistics centers in Poland dedicated to storage and distribution of marketing materials. Divante provides support to companies in the creation, development and optimization of Internet and mobile sales channels. The Company works for Internet stores, manufacturers, distributors and retail chains. It implements eCommerce solutions, integrates systems, designs and carries out marketing activities. The companies renders services for a few hundred businesses representing the FMCG, financial, telecommunication and pharmaceutical industries. They both belong to the OEX Group specializing in modern business services.
In the letter of intent, Tell and OEX Group have agreed purchase of 163,517,500 shares of Cursor S.A. by Tell for a total price of PLN 18.05 M (100.00% of share capital) and 592 shares in Divante Sp. z o.o. for a total price of PLN 5.06 M (51.03% of share capital).
– Taking a decision to acquire the shares of Cursor and Divante will depend mainly on a positive result of due diligence and obtaining approvals of the Supervisory Boards of both parties to sign the agreement – adds Rafał Stempniewicz. The Companies are planning to conclude the negotiations, including the signature of the agreement for the purchase of shares, by the end of 2014.