• Founded in 1990, cs Group pursues growth strategy with comprehensive customer support and cloud solutions for medium-sized businesses
• 3U aims at stronger expansion of managed services portfolio and regional presence
• Joint activities in product range and sales can be realised quickly

3U HOLDING AG (ISIN DE0005167902) is acquiring all shares in cs communication Systems GmbH, based in Pleidelsheim and with locations in Nuremberg and Leipzig, as well as cs network GmbH, also in Pleidelsheim (together "cs Group", https://www.citrus.tel). A corresponding purchase agreement was signed on 2 August 2023. The final closing conditions have been fully met as of today. The purchase price payment will be made using 3U’s existing financial resources. As usual, the parties have agreed not to disclose the exact terms of the transaction.

The cs Group has been successfully active in the telecommunications technology market since 1990 and, with currently almost 50 employees, specialises in telecommunications systems, cloud solutions, network and fibre optic technology. Today, the main focus is on migrating the telecommunications systems of corporate customers to the cloud and connecting their internal and external communications to Microsoft Teams. The cs group offers its approximately 400 existing customers a comprehensive package of services ranging from consulting and project planning to the sale, rental and brokerage of leasing contracts for telecommunications hardware and software to the installation, maintenance and ongoing support of communications solutions and networks. The cs group addresses the market for medium-sized companies and public clients with 20 to 300 office workplaces. It has already established a sound and promising growth strategy by acquiring new customers and upselling existing customers. The brands and offerings of the cs Group will be continued in the ITC segment of 3U. In the 2022 financial year, the group achieved a revenue of around EUR 8.2 million and is profitable.

"The cs Group is very well established in the market and has well-trained specialists. In our ITC segment, the acquisition will allow us to further expand our comprehensive portfolio of innovative solutions in telecommunications and information technology and in particular our range of managed services, as well as strengthen our presence in southern Germany," says Uwe Knoke, Member of the Management Board for Strategy and Business Development at 3U HOLDING AG. "The range of services and corporate culture at cs and at 3U are a very good fit – together we will continue the sustainable profitable growth into the future."

Peter Frohmüller, founder and managing partner of the cs Group, adds: "We are pleased to have found a competent partner and an economically strong new owner, who will continue our many years of successful activity with a high level of commitment and will consistently drive our growth strategy forward. For our employees, customers and our entire setting, we could not have found a better succession arrangement.”