Effective July 1, 2012, the TÜV Rheinland Group acquired all of the shares in the campus GmbH Center of Competence (including two fully consolidated subsidiaries). The company with headquarters in Düsseldorf is a provider of certified IT training for users, professionals, experts, and management. The purchase price was €9,952 thousand and is being paid in four interest-bearing tranches. Acquisition-related costs totaled €386 thousand and are stated as expenses incurred during the reporting period.
Intangible assets totaling €4,429 thousand were stated as a part of the purchase price allocation. Goodwill amounted to €7,848 thousand as at July 1, 2012.
The acquisition will increase the expansion and development of the IT training business, particularly internationally.
The consolidated financial statements include revenues from the campus GmbH Center of Competence (including two fully consolidated subsidiaries) amounting to €10,140 thousand and income totaling €305 thousand for the period July 1 to December 31, 2012. If the acquisition had been made at the beginning of the reporting period, revenues amounting to €19,086 thousand and income totaling €339 thousand would have been realized.
Furthermore, effective April 1, 2012, the controlling interest in Société Européenne de Contrôle Technique Automobile S.A. (SECTA), Courbevoie, was obtained and, as a result, was fully consolidated for the first time, after the capital stock had already been increased from 35.1% to 50.51% in 2011. The acquisition serves the targeted expansion of our engagement in one of Europe’s most important automobile markets. A positive difference of €4,475 thousand was expected in the course of reassessing the holding before the initial consolidation at fair value (€9,671 thousand). The consolidated financial statements include revenues amounting to €10,707 thousand and income totaling €1,361 thousand for the period April 1 to December 31, 2012. If the acquisition had been made at the beginning of the reporting period, revenues amounting to €14,190 thousand and income totaling €1,831 thousand would have been realized.
At the time of acquisition, the assets and liabilities of the companies acquired in 2012 are as follows:
|campus Group||SECTA S.A.|
|In ‘000 €||Before acquisition||After acquisition||Before acquisition||After acquisition|
|Cash and cash equivalents||37||37||3,182||3,182|
|Other current assets||6,237||6,237||2,288||2,288|