13.08.2018
ALLGEIER SE DE000A2GS633
DGAP-Adhoc: Allgeier SE: Allgeier significantly expands the international software development business in the Technology division
DGAP-Ad-hoc: ALLGEIER SE / Key word(s): Takeover
Allgeier SE: Allgeier significantly expands the international software
development business in the Technology division
13-Aug-2018 / 23:32 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Munich, August 13, 2018 - Allgeier SE, Munich (ISIN DE000A2GS633, WKN
A2GS63), is accelerating its development into an internationally operating
software development company with a further acquisition. Today Allgeier SE
signed a purchase agreement to acquire a majority stake in the software
development company iQuest Group.
iQuest is an international software company with around 700 highly qualified
employees working in the development centers in Cluj, Bucharest, Sibiu,
Brasov and Craiova in Romania and at other locations in Germany, Switzerland
and Poland. iQuest was founded in 1998 and generated sales of more than EUR
30 million and an adjusted operating EBITDA margin of around 15 percent in
the past fiscal year. The company develops individual software solutions for
major international customers, particularly in the life sciences,
telecommunications, financial services, transportation and energy sectors.
With this investment, Allgeier is further expanding its competence in the
development of complex software solutions for business-critical processes
and is continuing the internationalization of the Group. With the
significant expansion of its nearshoring resources within the EU, Allgeier
will in future offer even greater scalability through a flexible service and
delivery model tailored to the needs of customers. In addition to its German
locations, Allgeier already runs European development sites in Prague (Czech
Republic) and Timisoara (Romania) as well as international development
centers in India, Vietnam and China with a total of over 5,000 software
experts.
The acquisition is subject to approval by the cartel authorities in Germany
and other closing conditions. The purchase agreement is expected to be
concluded within the next four to six weeks. Allgeier will then acquire
approximately 67 percent of the shares for a purchase price in the
double-digit million Euro range. Cornelius Brody, the founder of iQuest,
will retain a 21 percent stake in the company for the next few years. The
operating management holds a total stake of approximately 12 percent.
Driven by global digitization and rapid technological development, there is
a high demand for highly agile software and application development on the
global markets. Topics such as the Internet of Things (IoT), Industry 4.0
and the targeted use of large amounts of data up to the inclusion of
artificial intelligence result in rapid changes for business models and IT
systems across all industries. Against the background of these global market
opportunities, the acquisition of iQuest is the next step for Allgeier for
the further significant expansion of its software development and services
business. Following the integration of approximately 400 SAP specialists
from Ciber in 2017, Allgeier strengthened its global high-end software
development business at the beginning of this year with the acquisition of
the Austrian software development specialist ANECON Software Design und
Beratung G.m.b.H., Vienna. The acquisition of Objectiva Software Solutions,
Inc. in San Diego, California, USA followed in June with around 450 highly
qualified software developers at the Chinese development centers in Beijing
and Xi'an.
Contact:
Allgeier SE
Corporate Communications & Investor Relations
Dr. Christopher Große
Wehrlestraße 12
81679 Munich
Germany
Phone: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
E-Mail: [email protected]
Web: www.allgeier.com
Allgeier SE is one of the leading IT companies for digital transformation:
with a growth strategy oriented to innovations and future trends as well as
an integrative entrepreneurial model, Allgeier is seizing the opportunities
of digitization. Four segments with individual technical and
industry-related focal points work together for around 3,000 customers from
almost all sectors. With around 8,000 employees and more than 1,400
freelance experts, Allgeier offers its customers an extensive one-stop-shop
range of solutions and services. Based on a highly flexible delivery model,
Allgeier covers the entire IT service spectrum from on-site through to
nearshore and offshore: with strong business pillars in India, China and
Eastern Europe, the company secures flexibility and maximum scalability of
services, as well as highly qualified high-end software development
expertise. Allgeier's customers include global corporations as well as
innovative medium-sized companies that aim to secure strategic advantages
through high-performance IT solutions, intelligent software and flexible
personnel services. This Munich-based, fast-growing Group maintains more
than 120 branches in the DACH region, in eleven other European countries as
well as in India, China, Singapore, Vietnam, Malaysia, Japan, South Africa,
Australia, Mexico and the USA. In the 2017 financial year, Allgeier
generated consolidated sales of EUR 574 million in continuing operations.
Allgeier SE ranks among the top 10 IT consulting and individual software
development companies in Germany according to Lünendonk(R)'s 2018 list "The
25 leading IT consulting and system integration companies in Germany".
According to the 2017 Lünendonk(R) market segment study "The market for
recruitment, placement and management of IT freelancers in Germany",
Allgeier Experts is among the top 3 IT personnel service providers in
Germany. Allgeier SE is listed in the General Standard on the Regulated
Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633).
Further information at: www.allgeier.com.
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Language: English
Company: ALLGEIER SE
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: [email protected]
Internet: http://www.allgeier.com
ISIN: DE000A2GS633
WKN: A2GS63
Indices: CDAX
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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713761 13-Aug-2018 CET/CEST
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