update software AG acquires 100 percent of ORGAPLAN Software GmbH
Ad-hoc release according to §15 WpHG
strategic decision / M&A
---------------------------------------------------------------------------------------------------------------
Vienna, Frankfurt, 26 April 2007 +++ update software AG, a leading European CRM solutions provider listed on the Frankfurt stock exchange, has acquired 100 percent of the German CRM company ORGAPLAN Software GmbH based in Cologne, Germany. The deal was closed today, 26 April 2007, in Cologne. The purchase price of EUR 5.8 million is based on a two-year earn-out model.
With around 200 customers and annual revenue of more than EUR 5 million, ORGAPLAN Software GmbH is the leading provider of CRM solutions for companies in the German banking sector. The company, which is domiciled in Cologne and has an additional office in Hannover, has around 60 employees and was founded in 1987 by Hans-Ulrich Krauß and Burkhard Demming. The two founders will continue to work in key positions within the company after the acquisition.
With this purchase, update is another step along in advancing its strategy of offering industry-specific solutions and expanding its technology, competence and market leadership in the financial services sector in particular.
Commentary text:
“Upon combining ORGAPLAN Software GmbH with the existing Competence Centre for Financial Services, update will have the largest customer base in the German banking market and the most complete portfolio of CRM solutions in this sector. This acquisition is part of our strategy to grow through industry focus. At the same time, we become active participants in the consolidation process that we see in the CRM market,” says the board of management, commenting the acquisition.
For further information please contact Ms. Monika Fiala, CFO & Investor Relations, phone: +43 1 878 55 - 0, fax: +43 1 878 55 - 505; e-mail: investor.relations@update.com
---------------------------------------------------------------------------------------------------------------
This is a translation from German into English.
