Share Purchase Agreement to Acquire OSC Group Signed / All for One Steeb AG
Filderstadt, 07 November 2012 – All for One Steeb AG and the shareholders of myOSC.com AG, Lübeck, Dr. Dietmar Kamp, Timm Nissen and Peter Duve, have finished the negotiations that were announced on 31 August 2012. As a result, All for One Steeb AG will acquire an initial 60% of the shares of myOSC.com from these three shareholders. Furthermore, the share purchase agreement that was signed today also sets forth the acquisition of the remaining 40% of the shares of the company and its subsidiaries by All for One Steeb AG at the end of a multi-year earnout period. The OSC Group will be fully included within All for One Steeb AG’s consolidated financial statements beginning on 1 November 2012. The companies that comprise the group, namely myOSC.com AG at the top and the subsidiaries OSC Open Systems Consulting GmbH, Lübeck, OSC Smart Integration GmbH and OSC Business Solutions GmbH, both based in Hamburg, as well as OSC Business Xpert GmbH, Burgdorf, together employ some 80 people and most recently generated total annual revenues of approximately EUR 8 million.
OSC, as a new subsidiary of the All for One Steeb AG, will operate as an independent unit within the All for One Steeb Group. Both companies have been working together successfully as business partners for many years. Kamp, Nissen and Duve will continue to be directors of myOSC.com AG and managing directors of its subsidiaries. OSC is not only an SAP Special Expertise Partner for Supply Chain Execution and SAP Professional Services, but also operates profitably in the fields of SAP Human Capital Management, SAP Business Analytics and SAP Business One. The group serves over 200 clients in northern Germany and over 100 of these with SAP Business One. »Together we want to further expand this good foundation«, emphasised All for One Steeb CEO Lars Landwehrkamp and myOSC.com Director Timm Nissen. In Hamburg All for One Steeb and OSC will be occupying joint offices at SAP’s new site in Hamburg Rotherbaum.
This acquisition of the OSC Group not only enables All for One Steeb AG to decisively expand its local footprint in northern Germany, but to also further enhance its position as the No. 1 for SAP among small and mid-sized companies in what is known as the DACH market (Germany, Austria and Switzerland).