Crescent NV (GB:0JEV) has released an update.
Crescent NV has successfully completed due diligence for the sale of its 2Invision companies to TSH, with the transaction expected to occur before the June 28 general meeting. The sale will allow the company to eliminate over €5 million in debt and shift focus towards IoT systems for smart applications while maintaining an operational profit of 5.5% with €17 million in revenue in 2023. Despite divesting 2Invision, Crescent is cautiously optimistic about mirroring the €17 million revenue in 2024.
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