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6 June 2023
Finance
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Discussions in progress to divest Avanquest’s non-core activities in Europe

Claranova’s subsidiary Avanquest has entered into discussions with several potential investors for the sale of its non-core activities in Europe.

This divestment, which is part of the division’s ongoing transformation into a publisher of proprietary SaaS solutions, concerns its third-party software distribution activities in Europe plus activities linked to the Micro-Application® brand (paper products, labels, stickers, etc.).

These lower-margin activities, operating in less buoyant and contracting markets and now generating approximately only US$12 million in total revenue, have thus become non-core. Discussions will continue throughout June, with a view to finalizing the sale by the end of July 2023.

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