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Jena, Germany, 20 April 2016 – The Intershop Communications AG (ISIN: DE000A0EPUH1) has gained a new major shareholder. The longstanding shareholder eBay Enterprise Inc. (formerly GSI Commerce Solutions Inc.) has sold its stake in the amount of 24.9 percent in voting rights in Intershop Communications AG. The new owner of this stake is Shareholder Value Management AG based in Frankfurt. The eBay Group had acquired the Intershop shares in the course of the take-over of GSI Commerce Solutions Inc. in 2011. After the sale of eBay Enterprise Inc. as part of the strategic realignment of the Group to private equity investors, the Intershop-stake was held at disposal.
Dr. Jochen Wiechen, CEO of Intershop Communications AG: “The Shareholder Value Management AG, which already held a stake of 3% in Intershop until end of March, has accompanied us for a long time, thus knowing our business very well. We are pleased to have an experienced small cap investor joining us as major shareholder and will continue our strategic enhancement of Intershop based on an intense dialogue with our investors.”
Shareholder Value Management AG is a Frankfurt-based fund advisory company focusing on small cap stocks. Their funds invest in undervalued stocks mainly in the German speaking countries.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.