Two Powerful Brands Combined into All for One Steeb / All for One Midmarket AG Closes Steeb Acquisition
Filderstadt, 02 December 2011 – All for One has closed the share purchase agreement it signed with SAP on 10 November 2011 as scheduled. Under this agreement, All for One Midmarket AG took over 100% of the shareholdings in Steeb Anwendungssysteme GmbH, Abstatt, from SAP AG, Walldorf. The transfer of shareholdings was made with an effective date of 1 December 2011. This acquisition follows a clear industrial logic: two strong, profitable and similarly well-established companies are joining forces to form the most efficient SAP full-service provider in the German-language SAP midmarket segment. Today marks the date that the two companies start doing business under their new combined brand name »All for One Steeb«.
Chief executive officer Lars Landwehrkamp had this to say as part of a live stream to around 700 employees of All for One Steeb in Germany, Austria and Switzerland: »All for One Steeb combines two outstanding brands that have been successful leaders within the midmarket segment for many years in order to deliver genuine added value by including the many SAP products and services of the future and to accompany midmarket customers on their growth curve«. The expanded management team of All for One Steeb was introduced during the signing of the agreements on 10 November 2011, and was joined by Andreas Naunin, the previous Head of SME and member of the Management Board of SAP Deutschland AG & Co. KG.
The proposal to change the company’s name to All for One Steeb AG will be presented to the annual general meeting of All for One Midmarket AG that will be held on 14 March 2012.