Financial Report - Comptel
Financial Report - Comptel
Financial Report - Comptel
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3. Business combinations<br />
<strong>Comptel</strong> acquired network inventory and<br />
EMEA mediation business from EDB Partner<br />
ASA on 3 October 2005.<br />
The original purchase price, 18 million<br />
euro, was paid on 3 October 2005.<br />
The business operations were transferred<br />
to <strong>Comptel</strong> on 1 October 2005. The business<br />
acquired was free from debt and its<br />
cash and cash equivalents amounted to<br />
0.1 million euro. Of the purchase price<br />
5.7 million euro was allocated to intangible<br />
rights, which are amortized over 3 to 5<br />
years and 12.5 million euro to goodwill in<br />
accordance with IFRS 3. Goodwill included<br />
transaction costs 0.3 million euro. During<br />
the financial period 2006 the net assets<br />
transferred to <strong>Comptel</strong> in the acquisition<br />
of business operations were considered to<br />
be less than initially assessed. Due to this,<br />
EDB Partner paid <strong>Comptel</strong> 18.3 million<br />
Norwegian krone (ca. 2.3 million euro). The<br />
final consideration, including professional<br />
fees, amounts to 16.2 million euro and the<br />
adjusted goodwill 10.8 million euro.<br />
The goodwill arisen relates to knowhow<br />
of the employees, market expertise and<br />
technology development potential of the<br />
acquired businesses. The expected future<br />
cash flows may be generated from all market<br />
areas, therefore goodwill can not be specifically<br />
allocated to any of the geographical<br />
segments alone.<br />
in eur 1,000<br />
Recognized fair values<br />
on acquisition<br />
Pre-acquisition carrying<br />
amounts<br />
Adjusted calculation in 2006<br />
Intangible assets 5,694 0<br />
Cash and cash equivalents 124 124<br />
Total assets 5,818 124<br />
Other liabilities -419 -419<br />
Total liabilities -419 -419<br />
Net assets 5,399 -295<br />
Acquisition cost 16,231<br />
Goodwill 10,832<br />
Purchase price paid in cash 16,231<br />
Cash and cash equivalents in acquired subsidiary 124<br />
Total net cash outfl ow on the acquisition 16,107<br />
Original calculation in 2005<br />
Property, plant and equipment 329 329<br />
Intangible assets 5,691 0<br />
Prepayments and accrued income 1,011 1,011<br />
Trade receivables 3,164 3,164<br />
Cash and cash equivalents 131 131<br />
Total assets 10,326 4,635<br />
Provisions -532 -532<br />
Other liabilities -4,090 -4,090<br />
Total liabilities -4,622 -4,622<br />
Net assets 5,704 12<br />
8<br />
Acquisition cost 18,247<br />
Goodwill 12,543<br />
Purchase price paid in cash 17,987<br />
Cash and cash equivalents in acquired subsidiary 131<br />
Total net cash outfl ow on the acquisition 17,856<br />
COMPTEL FINANCIAL STATEMENTS
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