adesso SE

M&A Activity • Jan 29, 2009

News Details

Ad-hoc | 29 January 2009 12:15

adesso AG acquires Austrian IT service provider beiT Consulting GmbH

adesso AG / Acquisition/Contract

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.

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adesso AG acquires Austrian IT service provider beiT Consulting GmbH /
Acquired company being renamed adesso Austria GmbH / Expansion in
Switzerland and Austria continuing

adesso AG is continuing to implement its expansion strategy by taking over
Vienna-based beiT Consulting GmbH. Thanks to the acquisition of the
successful company with 30 employees and annual sales of EUR 3.4 million in
2008 and planned EUR 5 million in 2009 adesso has now created the ideal
platform to enter the Austrian market.

beiT Consulting GmbH is well established in Austria, profitable and at the
end of 2008 was presented with one of the country's most renowned business
awards by business paper WirtschaftsBlatt and PricewaterhouseCoopers,
decorating it as one of 'Austria’s Leading Companies'.

As was previously the case in Switzerland, adesso will be incrementally
expanding its business model to Austria based on existing customers and the
available service portfolio. This will include swiftly renaming beiT
Consulting into adesso Austria GmbH and expanding the current service range
by adesso components as well as the industry-specific consulting approach.

As part of adesso Group with 600 employees then, beiT Consulting resp.
adesso Austria, will quickly achieve considerable visibility in the
Austrian market and will also be able to offer large-scale projects. In the
medium-term adesso aims to benefit from the traditionally close business
ties between Austria and Eastern Europe and to use the location as a
bridgehead to growing regions.

Austria's pioneering role in Europe when it comes to eGovernment as well as
the expertise held in beiT Consulting in the media industry will also be a
valuable asset to adesso’s industry-specific consulting approach. The
company will be able to derive specialised consulting and IT services which
it can offer in Germany and Switzerland.

The purchase price was agreed at EUR 2.7 million in cash as well as a
variable payment with a target volume of a further EUR 1.5 million
depending on reaching increasing earnings targets in the new country
company in the coming two years. The fixed part of the acquisition price is
being funded with an acquisition loan, while the variable component will be
paid from cash flows.

The acquisition is still under the suspensive condition of approval by
supervisory bodies.

Contact person, Investor Relations:
Christoph Junge
junge@adesso.de

Contact person, Public Relations:
Martin Moellmann
moellmann@adesso.de

adesso AG
Stockholmer Allee 24
44269 Dortmund
GERMANY
Tel.: +49 231 930-9330
Fax: +49 231 930-8996
www.adesso-group.de | www.adesso.de

29.01.2009 Financial News transmitted by DGAP

Language: English
Issuer: adesso AG
Stockholmer Allee 24
44269 Dortmund
Deutschland
Phone: +49 (0) 231 930-9330
Fax: +49 (0) 231 930-8996
E-mail: ir@adesso.de
Internet: www.adesso-group.de
ISIN: DE0005493704
WKN: 549370
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Stuttgart, München, Hamburg,
Düsseldorf

End of News DGAP News-Service

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