Brief: Simcorp EMEA Signs Non-binding Term Sheet With State Street Bank International GmbH

SIMCORP A/S

12/10/2020 06:46

Oct 12 (Reuters) - Simcorp A/S  SIM.CO :
    * SIMCORP EMEA SIGNS NON-BINDING TERM SHEET WITH STATE STREET BANK INTERNATIONAL GMBH
    * INTENTION IS TO FORM A BUSINESS PARTNERSHIP TO PROVIDE A PREMIER, FULLY INTEGRATED,
FRONT-TO-BACK INVESTMENT OUTSOURCING SOLUTION FOR INSURANCE FIRMS IN EMEA
    * FINAL AGREEMENT IS EXPECTED TO INCLUDE CONVERSION FROM PERPETUAL LICENSE AGREEMENT WITH
STATE
STREET SUBSCRIPTION-BASED LICENSE DEAL
    * IF TERM SHEET TRANSLATES INTO FINAL AGREEMENT IN 2020, SEES 2020 REVENUE GROWTH, EBIT
MARGIN
MEASURED IN LOCAL CURRENCIES AT HIGHER END OF OUTLOOK RANGE ANNOUNCED IN Q2 REPORT
    * FINANCIAL OUTLOOK ANNOUNCED IN ITS Q2 INTERIM REPORT: REVENUE GROWTH MEASURED IN LOCAL
CURRENCIES IS EXPECTED TO BE BETWEEN -5% AND 5%, AND EXPECTATION FOR EBIT MARGIN MEASURED IN
LOCAL CURRENCIES IS 22.0%-27.0%

Source text for Eikon:  ID:nGNEccQ1kP 
Further company coverage:  SIM.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))