2CRSi announces that it has reached an agreement with a subsidiary of Source Code, a US operator in the IT infrastructure solutions sector, for the sale of its stake in IT distribution specialist Boston Limited.

In November 2019, 2CRSi had acquired Boston Limited with the aim of creating 'significant synergies'. Indeed, 2CRSi Group sales had risen from 65 ME in 2018 to around 184 ME for the year ending February 2023.

'However, even though a majority share of 2CRSi Group sales is generated by Boston Ltd, its integration into the Group has been marked by unexpected operational and logistical challenges induced by component shortages, the "Brexit" and the Covid crises', notes 2CRSi.

Accordingly, the Board of Directors has issued a favorable opinion on Source Code's offer to acquire Boston Limited, convinced that this transaction will create value both for Boston and for 2CRSi's historical scope.

The transaction has already obtained all necessary approvals from the relevant regulatory authorities. Closing is expected to take place in July 2023, and the proceeds of the sale will be used primarily to reduce debt and strengthen 2CRSi's shareholders' equity.



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