Digigram Management Buyout Cancelled

Digigram Management Buyout Cancelled
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In business news from the international front: The Digigram Group said a planned management buyout has been cancelled after venture capital company Perfectis Private Equity "unexpectedly withdrew."
The recent creation of Audemat-Aztec in a merger of Audemat and Aztec Radiomedia is unaffected. Digigram still owns 40% of that entity. But the holding company Audiendis will not be created as had been expected.
"This decision does not affect things at the operational level for Digigram, nor our subsidiaries," said Managing Director Philippe Delacroix. "Financially, Digigram has a strong balance sheet with high cash reserves and low debt."
Digigram co-founders Philippe Girard-Buttoz and Marian Marinescu were planning to sell some shares but will now retain them. They still expect to retire eventually from the operations side of the company.

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