IBS completes the sale of non core subsidiaries to Infor

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IBS has signed a final agreement with Infor, thus completing the previously announced transaction regarding the divestment of four of IBS' European subsidiaries working with Infor's software solutions. The divestment is a step in the development of IBS to focus operations on international supply chain management software solutions within selected vertical segments.

The final agreement with Infor covers the transfer of IBS subsidiaries in Denmark, France and Sweden working with Infor's software applications. The agreement also covers parts of the IBS subsidiary GTM Consultatores in Spain. The number of employees involved in the transfer totals approximately 45.

IBS will receive a cash payment of EUR 3 m resulting in a small capital gain for IBS. The transaction date is set to June 1.

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