Ctac sells housing corporation software service (Fit4Woco) to DataBalk

21 March 2022
Financial,
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Ctac sells housing corporation software service (Fit4Woco) to DataBalk

21 March 2022

‘s-Hertogenbosch, 21 March 2022 – Business & Cloud Integrator Ctac N.V. (“Ctac”) (Euronext Amsterdam: CTAC) announces that it has reached agreement on the planned sale of its housing corporation software-as-a-service solution (Fit4Woco), including the transfer of all related assets and liabilities, to DataBalk B.V. (DataBalk). The sale of this service will enable Ctac to increase the strategic focus in its portfolio and in the real estate market the company will now focus fully on the commercial real estate sector with its Fit4RealEstate software solution.

DataBalk’s IT solutions and services are primarily focused on the housing corporation sector and the company is committed to the full continuation of services to Ctac’s clients in this sector.

“Earlier this year, we said we would be reviewing our portfolio and this sale is a part of that review. We see DataBalk as a logical and reliable acquisition party for Fit4Woco”, said Ctac CEO Pieter-Paul Saasen. “The talks between Ctac, DataBalk and the Stichting Vivare housing corporation (Ctac’s Fit4Woco client) led to the desired result for Ctac, DataBalk and Stichting Vivare. This Included safeguarding the continuation of services to the aforementioned corporation.”

Ctac expects to complete the transaction in 2022. Ctac will receive a payment for the software product and the related client contract. The sale of Fit4Woco will reduce Ctac’s annual revenues by around EUR 1.5 million.

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