Austria-based automotive dealership software supplier Incadea, which includes former Aim-quoted automotive software company DCS, plans to join Aim on 25 May.
Incadea (www.incadea.com) itself was formed in 2000 and it was a key part of the consolidation strategy of Reynolds & Reynolds, which acquired DCS in 2006 for 31.5p a share. That valued DCS at £10.9m and it had a similar level of net debt.
Reynolds & Reynolds is no longer involved in Incadea. Cyprus-based Danbury Enterprises owns 74.9% of Incadea.
There are more than 50,000 users of Incadea software.
Broker Cenkos has not published a market value for Incadea.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2012_31.pdf
© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.