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ALLGEIER SE / Key word(s): Strategic Company Decision
12-Sep-2019 / 18:40 CET/CEST
Munich, September 12, 2019 – In ad hoc announcements dated July 9, 2018 and January 31, 2019, Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) announced that the Management Board is aiming for a strategic separation into two corporate units – an increasingly global company focused on technology and software development and a personnel services company focused on the German market. For the personnel service provider operating under the name Allgeier Experts, the path to entrepreneurial independence should lead via an IPO.
The Management Board is sticking to the strategic goal of a separation but is reacting to the business development of the Allgeier Experts unit, which deviated from the plan, and has subjected it to a restructuring and efficiency enhancement program. The business model of Allgeier Experts will be further developed towards higher added value and more closely intermeshed with the IT services business. Against this background, the Management Board does not pursue the original planning of a separate IPO of the Experts unit any further.
After preparatory work in recent months, Allgeier has given priority to the forming and independence of the technology unit at today’s Management Board and Supervisory Board meetings. Further details of the future strategy and concrete separation will be decided by the end of 2019.
Allgeier SE is one of the leading IT companies for digital transformation. With a growth strategy focused on innovations and future trends and an integrative entrepreneurial model, Allgeier is seizing the opportunities of digitalization. Four segments with individual technical and industry-related focal points work together for around 3,000 customers from almost all industries. With over 9,800 employees and around 1,300 freelance experts, Allgeier offers its customers a comprehensive portfolio of solutions and services as a one-stop shop. With a highly flexible delivery model, Allgeier covers the complete IT service spectrum from onsite to nearshore to offshore: With strong footholds in India, China, Vietnam and Eastern Europe, flexibility and maximum scalability of services as well as highly qualified expert knowledge in high-end software development are ensured. Allgeier’s customers include global corporations as well as innovative medium-sized companies that want to secure strategic advantages through high-performance IT solutions, intelligent software and flexible personnel services. The fast-growing group, headquartered in Munich, Germany, has more than 140 offices worldwide in fourteen European countries as well as in India, China, Singapore, Vietnam, Thailand, Malaysia, Japan, the United Arab Emirates, South Africa, Mauritius, Australia, Mexico, Canada and the USA. In 2018 fiscal year, Allgeier generated sales of EUR 687 million from continuing operations. According to Lünendonk(R) List 2018, Allgeier is one of the ten leading IT consulting and systems integration companies in Germany. According to Lünendonk(R) Market Segment Study 2019 “The market for recruitment, placement and management of IT freelancers in Germany”, Allgeier Experts ranks among the top 3 IT personnel service providers in Germany. Allgeier SE is listed in the General Standard of the Regulated Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633). Further information is available at: www.allgeier.com.