Munich, June 08, 2018 – Allgeier SE, Munich (ISIN DE000A2GS633, WKN A2GS63), is strengthening its international software development business in the Technology business segment with a further acquisition. Today, Allgeier SE signed a purchase agreement to acquire 100 percent of the shares of Objectiva Software Solutions, Inc., based in San Diego, California, USA.

Objectiva Software Solutions, Inc. was founded in 2001 and generated revenues of around USD 24 million with an operating EBITDA margin of around 10 percent in the past fiscal year. Objectiva specializes in software development solutions and cross-platform technology implementation, especially in e-commerce and content solutions. The company has an excellent customer base in the US market, ranging from private equity-financed independent software vendors to Fortune 100 companies. In addition to its offices in San Diego and Seattle, Objectiva operates sales networks in the greater Chicago, Denver, Indianapolis and Boston areas. Thus, Allgeier is continuing to expand its presence and network in the US market. In addition, Objectiva has two development centers in Beijing and Xi’an, China with about 450 highly qualified software resources. By gaining these new colleagues, Allgeier is further expanding its competence in the development of complex software solutions for business-critical enterprise processes and is continuing the internationalization of the Group. In addition to its presence in the US market, Objectiva has also acquired attractive customer presence in China and other Asian markets. As part of the Allgeier Group, Objectiva will also expand its reach in Germany and Europe, in cooperation with the Allgeier Group companies.

The purchase agreement is expected to be executed before the end of this month. The purchase price amounts to a double-digit million Euros and is divided into an amount due at closing and earn-out payments due at a later date.

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 mean rapid changes for many business models and IT systems across all industries. Against the background of these market opportunities, the acquisition of Objectiva for Allgeier means taking the next step in the further significant expansion of the technology business segment. Already at the beginning of the year Allgeier strengthened its global high-end software development business with the acquisition of the Austrian software development specialist ANECON Software Design und Beratung G.m.b.H., Vienna.

Contact:

Allgeier SE
Corporate Communications & Investor Relations
Dr. Christopher Große
Wehrlestraße 12
81679 Munich
Phone: +49 (0)89/998421-0
Fax: +49 (0)89/998421-11
E-Mail: ir@allgeier.com
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 business model, Allgeier exploits the opportunities that digitization offers. Three operating segments with individual specialist and sector-related focus areas work together for around 3,000 customers from almost all business sectors. With around 8,000 salaried employees and about 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 and China, the company secures flexibility and maximum scalability of services, as well as highly qualified high-end software development expertise. Allgeier customers include globally operating groups as well as innovative medium-size business operations 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 region of Germany, Austria and Switzerland, in ten further European countries, as well as in India, China, Singapore, Vietnam, Malaysia, Japan, Australia, South Africa, Mexico and the USA. Allgeier generated EUR 574 million of revenue in 2017 (continued operations). Allgeier SE ranks first in the 2017 Lünendonk(R) special analysis of “Leading German Medium-Sized IT Consultants and System Integrators”. According to the Lünendonk(R) 2017 market segment study “The Market for Recruiting, Mediating and Managing IT Freelancers in Germany”, Allgeier Experts ranks among Germany’s top three IT personnel service providers. Allgeier SE is listed on the Regulated Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633). For more information, visit: www.allgeier.com.