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Press
Allgeier and Otto Bock Holding sign Letter of Intent to merge their SAP and Microsoft business units

11/08/2018

Milestone for the continuing transformation of the Allgeier Group into a global Software Services Company

  • The two global IT companies Allgeier Enterprise Services and Sycor are planning to join forces under the majority leadership of Allgeier
  • This strategic step is a significant milestone for the continuing transformation of the Allgeier Group into a global Software Services Company

Munich and Göttingen, 08 November 2018 – SAP and Microsoft software services and consulting companies Allgeier Enterprise Services and Sycor are planning to join forces. With the merger, the new company would become the leading IT business services provider in the DACH region under the majority leadership of Allgeier and revenues expected to exceed EUR 220 million already in 2018.

The Sycor parent company, Otto Bock Holding GmbH & Co. KG, and Allgeier SE today signed a Letter of Intent with the aim of merging their two SAP and Microsoft business services units. With this agreement, both parties have set the stage for further steps in the process, in particular mutual due diligence. Allgeier and Otto Bock Holding aim to conclude the corresponding contracts by the end of the year.

The merger between the two leading IT services and consulting companies will significantly expand and strengthen the new entity as a service provider in the SAP and Microsoft environment. The new company will cover all IT processes of upscale medium-sized companies and will focus on modern topics such as Cloud, S/4HANA as well as MS Cloud technologies. The customer base, which is essentially located in the upper medium-sized business and enterprise environment, will be significantly expanded by the merger. Together, the two companies will be able to significantly improve their prospects in the global markets with a joint workforce of more than 1,500 highly qualified SAP and Microsoft consultants at 50 locations in the German-speaking region, France, Denmark, China, Singapore, Canada and the USA. Together both units have access to a market of approximately 2000 existing customers worldwide and to the worldwide Allgeier eco-system as a delivery model for German medium-sized businesses. Due to the close cooperation within the group, Allgeier offers its upscale medium-sized customers from the DACH region a regional frontend combined with offshore and nearshore delivery models from the Allgeier Group. A wide range of Allgeier’s proprietary business solutions completes the comprehensive portfolio successfully supporting customers with innovative IT solutions through their digital transformation.

“With a growth strategy geared to innovation and future trends, we will jointly seize the opportunities of digitization in the future”, emphasizes Hubert Rohrer, CEO of Allgeier Enterprise Services and member of the Allgeier SE Board of Management. “Part of this concept is the decision to position the new company on the market for IT digitization specialists under the brand “Sycor” as part of the Allgeier Group”, Rohrer continues.

Allgeier Enterprise Services is a division of Allgeier SE, one of the leading German IT companies for digital transformation. Allgeier SE, based in Munich, operates at 140 locations in Europe, Asia, America as well as in Africa and Australia with a highly flexible global delivery model. “This merger creates the best growth conditions for the new Sycor entity”, says Sycor Managing Director Jochen Schwiersch, describing the new situation. “The merger alone puts us into one of the leading medium-sized German companies in the IT consulting market.” The co-founder and long-time managing director of Sycor, Rüdiger Krumes, adds: “Together, we want to pursue the goal of becoming the market leader in this segment. The portfolio of the two houses offers the best conditions for this, as it optimally complements the requirements of our customers.”

The portfolio will continue to encompass consulting services ranging from strategy and process consulting to complete implementation as well as managed services in the areas of application management, hosting and cloud. An important decision-making point for the negotiating team, which was led by Prof. Näder, was the joint assessment with Allgeier that Sycor’s culture, based on its employee orientation, was maintained and that all former Sycor employees retain their jobs and continue to do their share in the future development of Sycor.

About Allgeier SE:

Allgeier SE is one of the leading IT companies for digital transformation. With a growth strategy geared to innovation and future trends, as well as an integrative entrepreneurial model, Allgeier seizes the opportunities of digitization.

The four operating divisions Allgeier Enterprise Services, Allgeier Experts, mgm technology partners and Nagarro offer a high level of individual specialist and industry-specific specialization for around 3,000 customers from almost all sectors.

With more than 9,000 employees and more than 1,300 freelance experts, Allgeier offers its customers a comprehensive solution and service portfolio as a one-stop-shop. With a highly flexible delivery model, Allgeier covers the entire range of IT services from on-site to nearshore to offshore. With strong bases in India and China, flexibility and the highest scalability of services and 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. Headquartered in Munich, Germany, the rapidly growing group has about 140 branches in the DACH region, eleven other European countries, India, China, Singapore, Vietnam, Malaysia, Japan, UAE, South Africa, Australia, Mexico and the USA. In the 2017 financial year, Allgeier generated consolidated sales of EUR 574 million in continuing operations. Allgeier SE is one of the top 10 IT consulting and individual software development companies in Germany according to the Lünendonk® list 2018 “The 25 leading IT consulting and system integration companies in Germany”. According to the Lünendonk® Market Segment Study 2017 “The Market for Recruitment, Mediation and Management of IT Freelancers in Germany”, Allgeier Experts is among the TOP 3 IT Personnel Service Providers in Germany. Allgeier SE is listed on the Regulated Market of the Frankfurt Stock Exchange in the General Standard (WKN A2GS63, ISIN DE000A2GS633). Further information at: www.allgeier.com

About Sycor:

The Sycor Group is a digitalization service provider with more than 750 employees worldwide. With headquarters in Göttingen and other locations in Germany, Austria, America and Asia, the company is internationally capable. Sycor supports customers with needs-based IT services and solutions for all areas of the company along the entire value chain and harmoniously integrates individual solutions into existing ones or builds completely new infrastructure and application landscapes. Sycor implements and operates cloud, on-premise or hybrid solutions to meet customer needs.

The company offers its own solutions, vertical add-ons and all services related to SAP ERP and Microsoft Dynamics 365 as well as quality-assured solutions and services for IT outsourcing, customer relationship management (CRM) and enterprise content management (ECM). Its broad know-how includes Unified Communications, Software Asset Management, License Acquisition Optimization and Software LifeCycle Management, Security and Networks, Industry 4.0, Internet of Things (IoT) and Big Data. In addition, Sycor realizes professional web solutions in the field of business-to-business and business-to-consumer applications with ERP or CRM integration.

Sycor GmbH has a quality management system certified according to DIN EN ISO 9001. The Technology Division’s ISO 27001 certificate is proof of a stably structured information security management system. Sycor is Gold Partner and Partner Center of Expertise of SAP Germany SE. As a Microsoft Partner, the company is a cloud solution provider, strategic development partner for the rental, trading, service and maintenance of mobile goods and fleet management sectors. As an expert in Professional Services and Manufacturing, Sycor is a member of the Microsoft Dynamics Industry Partner Program (EMEA). Various gold and silver skills stand for the broad expertise in the Microsoft environment.

In 2017, Sycor generated an increase of 20 percent in sales and increased its annual turnover to EUR 85.1 million. In addition, the company has grown organically by 100 employees to 750 employees worldwide. In August 2017, the 20th location of Sycor in Freiburg was opened; At the end of June 2018, Sycor moved into a new office complex on the site of the ‘old freight yard’ in Göttingen.