adesso SE / DE000A0Z23Q5
20.02.2024 - 09:30:03adesso acquires Turkish SAP consulting company arteno and expands SmartShoring technological capacities
| adesso SE / Key word(s): Takeover 20.02.2024 / 09:30 CET/CEST The issuer is solely responsible for the content of this announcement. By completely acquiring arteno, a leading company for SAP consultaning services in Turkey, the adesso Group is continuing its international expansion and growth strategy. The acquisition allows adesso to supplement its technological portfolio in Turkey with the addition of highly sought-after SAP services while also expanding SmartShore capacities for international customers. The closing of the transaction is set to be completed in the near future, subject to the approval of the Turkish authorities, and will result in the rapidly growing and highly profitable company being merged onto adesso’s national subsidiary in Turkey. A purchase price in the low to mid single-digit million euro range was agreed, depending on the SAP unit reaching its future targets. All operational partners and sellers will continue to develop the business and hold senior positions within the adesso Group. The current sales volume of around EUR 2 million is to be significantly expanded in the coming years as the SAP market continues to grow rapidly against the backdrop of S/4HANA transformations. Both sides benefit equally from the merger: As an experienced consulting company for SAP-based core business applications, arteno adds highly specialised expertise in the development of adesso’s existing and new customer business in Turkey. For the past ten years, the Istanbul-based SAP Silver Partner has been advising Turkish customers and renowned companies in the German-speaking market and rolling out solutions for them at the respective locations in Turkey. arteno has a wealth of experience in SAP financial management solutions, in development projects involving SAP ABAP/Fiori and with S/4HANA. Access to the broad international market and resources of the adesso Group offers arteno employees strong potential for development. As part of the successful adesso SmartShore model, business is to be expanded for client companies throughout Europe. arteno’s merger with adesso Turkey is therefore also an important building block for the adesso Group in the strategic development of its international business. adesso intends to significantly increase its SAP resources in Turkey and expand its application management services in the short to medium term. “arteno is an up-and-coming, dynamic company that pursues similar values to us and fits in well with our adesso culture,” says Burak Bari, CEO of adesso Turkey, voicing his satisfaction at the successful transaction. “We benefit from its SAP expertise in finance and controlling and cement our SmartShore business and SAP project capacities with its support.” adesso Group With more than 9,200 employees and expected annual sales of more than EUR 1 billion in 2023, adesso Group is one of the largest German IT service providers with outstanding growth opportunities. At its own locations in Germany, other locations in Europe and the first locations in Asia, as well as at numerous local customers adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. In 2023 and 2020, adesso was awarded the title of the best employer of its size in Germany across all industries. After having already achieved first place among IT employers in 2016, 2018 and 2020, adesso was ranked first again in 2023. Contact: Martin Möllmann Head of Investor Relations Tel.: +49 231 7000-7000 E-Mail: ir@adesso.de 20.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | adesso SE |
| Adessoplatz 1 | |
| 44269 Dortmund | |
| Germany | |
| Phone: | +49 231 7000-7000 |
| Fax: | +49 231 7000-1000 |
| E-mail: | ir@adesso.de |
| Internet: | www.adesso-group.de |
| ISIN: | DE000A0Z23Q5 |
| WKN: | A0Z23Q |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London |
| EQS News ID: | 1840341 |
| End of News | EQS News Service |
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