Intershop implements cash capital increase to accelerate market success in the cloud business

  • Resolution to increase share capital by just under 10
  • Anchor shareholder supports cloud strategy
  • Investment in sales and liquidity reserve for cloud conversion

Jena, May 8, 2018 - Intershop Communications AG (ISIN: DE000A0EPUH1), a leading independent provider of innovative solutions for omnichannel commerce, has completed a cash capital increase of nearly 10 percent of its capital stock. The company will thus receive additional funds of around EUR 5.133 million. They are to be used to accelerate the transformation of the company into a cloud enterprise. In this context, the standardized cloud solution Commerce-as-a-Service (CaaS) was launched in February 2018. In addition, investments in sales are possible for the increased acquisition of new CaaS customers.

Dr. Jochen Wiechen, CEO of Intershop, commented: "Just a few weeks after the launch, we have already seen the first successes of our cloud strategy. These include the new customers acquired and the pleasing start to positioning of the new CaaS offering on the market. We want to take advantage of this momentum and continue the transformation towards the cloud."

"We are already seeing a well developing sales pipeline. With the additional funds we want to use the dynamics of direct sales by specifically strengthening the team by up to 6 employees. We also want to further intensify our partnership with Microsoft and are setting up a dedicated team for this purpose. Overall, we expect an additional order intake of about 6 million euros in 2019", adds Axel Köhler, Chief Sales Officer.  

Intershop's anchor shareholder, Shareholder Value Management AG / Shareholder Value Beteiligungen AG, also supports this strategy and further expands its commitment by participating in the capital increase. Frank Fischer, Chairman of the Management Board of Shareholder Value Management AG, explains: "We support the strategy of transition to cloud business. We are already aware of the liquidity requirements during this conversion with other conversions to the cloud model. We believe Intershop is on the right track to seize the sales opportunities that are opening up."

After registration of the capital increase in the Commercial Register, the new shares will be admitted to trading on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) without a prospectus and included in the existing listing.

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About Intershop

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.

Intershop Public Relations

Heide Rausch
Head of Corporate Communication