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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.