Banqup Group completes divestment of UK print business, reinforcing strategic focus on core digital services

Core Insights - Banqup Group SA has completed the sale of its UK print operations to the Managing Director of the UK business, aligning with its strategic priority to divest non-core traditional communication services and focus on core digital services [1][2][3] - A strategic partnership agreement has been established, allowing the UK print business to become an authorized reseller of Banqup products, ensuring continuity for employees and customers [2][3] - In 2024, the UK print business generated total revenue of €7.0 million with a gross margin of 39.1% and a positive EBITDA of €1.1 million, employing 18 full-time equivalents [2] Company Strategy - The divestment is part of Banqup's transformation into a pure-play SaaS provider, enhancing its focus on scaling core digital services in key European markets [3] - The new ownership structure is expected to maintain a presence in the UK market while allowing Banqup to concentrate resources on digital service growth [3] Leadership Comments - CEO Nicolas de Beco emphasized the importance of the divestment in progressing towards a SaaS model and thanked the UK team for their contributions [3] - Mark Hetem, the Managing Director of the UK print business, expressed enthusiasm for leading the business and highlighted the value of the partnership with Banqup in meeting the evolving needs of UK businesses [3]