This transaction also offers an opportunity to officially announce the appointment of Eric Gareau as Avanquest’s CEO. As owner of 100% of the share capital of the entities comprising the Avanquest division, Claranova will reap the full benefits of the efforts made over the last two years in transitioning to a SaaS 4 business model and the new prospects that are now available to the division.
Pierre Cesarini, CEO of Claranova Group commented: 'I am particularly pleased to announce the completion of this transaction which will contribute to simplifying the Group’s capital structure in order to facilitate the market’s understanding of our business portfolio organization. On this basis, the total value of the division’s shares amounted to €155.9 million 3. PARIS-( BUSINESS WIRE)-Regulatory News:Ĭlaranova (Paris:CLA) (Euronext Paris: FR0013426004 - CLA) today announced the completion of the buyout of all minority interests in Avanquest, its software publishing division, as announced on August 11, for a total consideration of €99.9 million, including a purchase price adjustment of €1.5 million based on Avanquest's cash position 1.
