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    TXGN   CH0011178255

TX GROUP AG

(TXGN)
  Report
Delayed Swiss Exchange  -  11:30:04 2023-02-03 am EST
143.00 CHF   +0.70%
02/01Stifel Lowers Price Target on TX Group, Maintains Buy Recommendation
MT
01/17Christoph Tonini to become Delegate of the Board and CEO of SMG Swiss Marketplace Group and step down from his mandates at TX Group
EQ
01/17TX Group AG Announces Board Changes
CI
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Byggfakta Group acquires Olmero from TX Group

11/02/2020 | 07:20am EST

Byggfakta Group acquires Olmero from TX Group

Byggfakta Group has acquired Olmero from the TX Group. Olmero is the leading provider for digital management of construction projects in Switzerland offering online solutions for professional tendering, construction project management and reprography.

Zurich / Stockholm, 2. November 2020 - As a pioneer and ETH spinoff for the digitalization of the construction industry, Olmero has been supporting architects, engineers, (general) contractors and suppliers for over 20 years. The added construction volume of the projects managed on Olmero's platforms is around 5 Billion Swiss Francs per year. While Olmero's main focus still lies on the Swiss market, it is also acquiring more and more clients in Germany and Austria. Besides its six Swiss offices Olmero also has two development sites in Belgrade (Serbia) and Düsseldorf (Germany).


Markus Schulte, CEO and founder of Olmero commented: "I'm very excited that after an extensive global search for a fitting partner we have found a new owner that shares our vision of digitizing the construction industry and that offers us the perfect basis to follow our ambitious goals. We've already come a long way and I'm looking forward to driving further innovations in this new promising setup."

Stefan Lindqvist, CEO of Byggfakta Group commented: "We are very pleased to have Olmero joining Byggfakta Group and our journey to become a leading player in the eTendering market in Europe. Olmero will contribute with a strong position in the DACH region, but also enhance our capability of establishing in other regions."


Henrik Lif, Partner at Stirling Square Capital Partners responded: "We are very pleased to welcome Olmero as the newest member of the Byggfakta group. Olmero represents our second major acquisition this year in the European tender management space and our first in the DACH region. We look forward to supporting Olmero in expanding its business both in its current markets and outside."


Samuel Hügli, Head of Technology & Ventures and member of the Group Management at the TX Group, said: "Following a review of our strategy and focus on three investment fields (consumer fintech, productivity, digital entertainment) we concluded not to be the perfect owner for Olmero anymore. We are therefore very happy to have found a new owner in the Byggfakta Group which shares the same vision as Olmero of digitizing the construction industry and offers significant product synergies."

Stifel served as financial advisor to TX Group on the transaction.




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Analyst Recommendations on TX GROUP AG
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Financials
Sales 2022 933 M 1 011 M 1 011 M
Net income 2022 -13,4 M -14,5 M -14,5 M
Net cash 2022 221 M 240 M 240 M
P/E ratio 2022 -113x
Yield 2022 5,28%
Capitalization 1 515 M 1 640 M 1 640 M
EV / Sales 2022 1,39x
EV / Sales 2023 1,40x
Nbr of Employees 3 371
Free-Float 21,3%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 143,00 CHF
Average target price 197,00 CHF
Spread / Average Target 37,8%
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Managers and Directors
Pietro Paolo Supino Director
Samuel HŘgli Head-Technology & Ventures Division
Sandro Macciacchini Chief Operating Officer
Konstantin Richter Director
Martin Kall Vice Chairman
Sector and Competitors