Aicha vorm Wald, Germany, September 9, 2021
- UCY Technologies to spin-off its ThinHoc (www.thinhoc.com) project as a standalone company
- The companies will maintain their strong mutually beneficial strategic relationship and are to sign a commercial agreement that will ensure optimal co-engineering of solutions for customers
- Transaction drives additional growth opportunities for both companies and will unleash significant value for stakeholders
UCY Technologies announces the planned spin-off of its ThinHoc (www.thinhoc.com) project as the new entity ThinHoc Systems Europe GmbH. The transaction is expected to close during the fourth quarter of 2021.
UCY Technologies and ThinHoc Systems will enter into a commercial agreement that will enable the co-development of pertinent technologies and ensure alignment on sales and marketing activities, while providing independent room for growth of the new business unit.
“By spinning off ThinHoc Systems, we are going to focus development and marketing efforts for ThinHoc, therefore accelerating growth of both the customer base and feature set of our product. By isolating the service-based business model from our existing industry-focused operations, we will also facilitate investment opportunities in the new entity.”, said Maximilian Söllner, Group CEO, UCY Ventures Group. “The spin-off emphasizes our continued commitment towards revolutionizing the client-computing space as a strong contender in the thin client market, leveraging the full potential of our excellent tech stack.”, added Benjamin M. Grunert, CTO of UCY Technologies and new general manager of ThinHoc Systems Europe GmbH.