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KWP Purchases 70% of Magnisol Deutschland GmbH

Kümmel, Wiedmann + Partner Unternehmensberatung (KWP) purchases 70% of Magnisol Deutschland. Enlarged footprint in Germany. Shared Services Center for globally operating railway industry group as starting point for Business Process Outsourcing. Global Magnisol Group increasing KWP's range of products and services for international Human Capital Management projects and services. Own estimates of market share in Germany put at about 17%.

Stuttgart, 14 August 2007 – AC-Service is further expanding its SAP Human Capital Management (HCM) activities. The core of these activities is formed by the 56% equity holding in the company K�mmel, Wiedmann + Partner Unternehmensberatung GmbH (KWP) of Talheim, which in mid-August took over a 70% share of Magnisol Deutschland GmbH, Hamburg. Like KWP, Magnisol Deutschland specialises in the human resources issues involved in SAP HCM. It employs a staff of 12 and expects revenues of some EUR 1.0 to 1.2 million for 2007. There will be no change in the management of Magnisol Deutschland consisting of Thomas Scharsack and Nikolai Hartmann. Prior to KWP coming on board, these two managing sole shareholders each held one-half of the shares. Following KWP's entry Scharsack and Hartmann each now retain a share of 15% as minority shareholders.

With over 600 current clients, KWP is one of the leading SAP HCM consulting companies in Germany and based on its estimates would have a market share of some 17%. In light of this, the two KWP managing directors Hartmut K�mmel and Joachim Volpert see this majority equity interest in Magnisol Deutschland primarily as »the expansion of the local presence, the establishment of HCM Business Process Outsourcing Services and the enhancement of products and services for internationally aligned clients.« The Magnisol location in Hamburg and the opening of an additional KWP site in Berlin planned for early September 2007 are important pillars for further expanding the customer base in these important and powerful economic regions.

Magnisol Deutschland has implemented SAP HCM projects in companies such as Vattenfall Europe Information Services, Blohm & Voss, Edding AG, RWE Umwelt AG, Schering AG and Kraft Foods, and also operates through it's 100% subsidiary hcc professional services GmbH, Hamburg, a multi-language Shared Services Center to meet the HCM demands of a globally operating railway industry group. Scharsack and Hartmann are pleased to report how, »this kind of expertise is an excellent starting point for us together with KWP to provide more and more Shared Services Center services and business process outsourcing for SAP HCM on both a domestic and international basis.« Market observers foresee great growth opportunities for such business activities. What's more, Magnisol Deutschland is a 11% stakeholder in the Irish firm Magnisol Ltd, Dublin. This company sits atop a globally operating group of SAP HCM consulting companies from France, Denmark, Great Britain, the United States and South Africa, which hold leading positions in their markets and support each other in serving international Clients.