CANCOM completes full acquisition and integration of Pironet

CANCOM SEDealroom has a profile for this one. Try Dealroom →, a leading Munich-based IT services provider, completed the full acquisition of Pironet AG in April 2019. Originally based in Cologne, Pironet was a cloud and IT solutions company. The acquisition process began in 2013, when CANCOM launched a voluntary public takeover offer for Pironet shares. By January 2014, CANCOM had secured a 78.1% stake, and in January 2019, it increased its ownership to over 95%, enabling a squeeze-out of remaining minority shareholders.

Following approval at an Extraordinary General Meeting in January 2019, the acquisition was finalized in April 2019. Pironet was subsequently integrated into CANCOM’s Cloud Solutions business and now operates as CANCOM Pironet AG & Co. KG, with headquarters relocated to Munich. At the time of integration, Pironet had around 250 employees and annual revenues of approximately €56 million. The move supported CANCOM’s strategic expansion of its cloud and managed services offering.

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