Acquistion of avantum consult AG Intended / Take a Top Spot in the Business Analytics Market
Filderstadt, 28 March 2014 – All for One Steeb AG, the leader in the German-speaking SAP midmarket segment, now also wants to take a leading position in the rapidly growing and expanded overall market for business analytics and performance management. For this reason the company intends to take over all the shares of avantum consult AG, Düsseldorf. Established in 2003, this company is one of the most respected technology-independent consulting specialists for Performance Improvement & Transformation, Corporate Reporting & Compliance and Performance Management Systems, which includes planning, reporting, forecasting, and simulation systems. The company operates predominantly in Germany and Switzerland, presently employs some 70 people, posted total revenues of approximately EUR 10 million in the financial year 2013, and is clearly profitable. It mostly serves larger midmarket clients and major corporations, such as ANWR Group, Carl Kühne, Deutz, Daiichi Sankyo, Takeda Pharma, Kirchhoff Gruppe, Knauf Gips, Merck, Mitsubishi Hitachi Power Systems Europe, Paulaner and many others.
Michael Sinß, the CEO of avantum consult AG: »All for One Steeb is not just the leader in the SAP midmarket with the largest installed customer base in countries where German is spoken, but is remarkably strong in sales, service, technology and as an employer brand, in addition to having a powerful business unit in the analytics market. This move will let us expand and leverage our resources and capabilities. And together, we can also look forward to further expanding our portfolio of products and services for the benefit of All for One Steeb’s many mid-sized customers. Both companies’ solution portfolios and cultures fit extremely well together. Overall, this merger will open up some outstanding opportunities for customers and employees alike.« Lars Landwehrkamp, the CEO of All for One Steeb AG: »The planned acquisition of avantum consult AG represents the logical and responsible next step in our buy & build strategy. Larger companies that use technologies such as SAP HANA, mobile solutions and others are the sources of inspiration and momentum for our core market, namely the German-speaking midmarket. It was with this in mind that we recently strengthened our technology consulting assets with the transfer of the GOPA technology team to us. And now we want to take a leading position in the overall market for business analytics and performance management as well. With avantum consult we will not only gain outstanding experts mutually reinforcing, but also a well-established brand along with broadened access to customers for our outsourcing, technology and cloud services.«
The executive bodies of avantum consult AG welcome this planned transaction. An agreement regarding the key points of the share purchase agreement was reached with the single three shareholders and management board members, Michael Sinß (CEO), Dr Thomas M. Fischer and Dirk Böckmann. The three directors will continue their work as members of the avantum consult management board following the acquisition by All for One Steeb. This planned transaction is expected to be completed in the next quarter, and requires the final agreement on the part of the contracting parties, endorsement by their executive bodies, and the approval of the German Federal Cartel Office.