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All for One Group SE — M&A Activity 2011
Sep 15, 2011
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M&A Activity
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Corporate | 15 September 2011 20:12
All for One Intends to Acquire Steeb Anwendungssysteme GmbH
All for One Midmarket AG / Key word(s): Acquisition
15.09.2011 / 20:12
All for One Intends to Acquire Steeb Anwendungssysteme GmbH
Filderstadt, 15 September 2011 – All for One Midmarket AG is looking to purchase all the shareholdings in Steeb Anwendungssysteme GmbH, Abstatt. Steeb Anwendungssysteme GmbH is a wholly owned subsidiary of SAP AG, Walldorf. A related letter of intent between All for One Midmarket AG and SAP AG was already signed. The negotiations are being conducted on an exclusive basis.
Steeb Anwendungssysteme GmbH is one of the leading SAP system houses in Germany. The company employs some 190 people, and in financial year 2010 generated revenues of approximately EUR 61 million with some 1,000 customers almost exclusively in Germany.
There is clear business logic behind the planned transaction. Both companies ideally complement each another. All for One Midmarket AG's intended acquisition of Steeb Anwendungssysteme GmbH will help the company as an SAP full-service provider for SAP Business Suite of more rapidly expanding its leading position within the midmarket segment to also include the growing markets for SAP Business ByDesign, SAP Business Analytics, SAP Mobile Solutions and SAP Outsourcing Services. The management of Steeb Anwendungssysteme GmbH welcomes this planned acquisition.
Completion of the acquisition requires that All for One Midmarket AG and SAP AG agree on the content of the purchase agreement, as well as approval by the supervisory board of All for One Midmarket AG, approval by the executive board of SAP AG, and permission to make the acquisition by the responsible antitrust authorities. The acquisition is to be made before the end of 2011.
SAP
Michael Kleinemeier, Regional President DACH at SAP: »All for One by itself is already very strong in terms of sales. One of the big things we expect to see from this newly formed company of All for One plus Steeb is a sustained and powerful added range of impetus for our midmarket business in our home market of Germany. The entire SAP ecosystem will benefit from this.«
Steeb
Dr. Alexander Arnold, Managing Director of Steeb Anwendungssysteme GmbH: »The Steeb and All for One skill sets enhance each other perfectly. Both companies are in full agreement in their assessment of the outstanding opportunities that this business combination will create for its customers, employees and partners, not to mention for SAP. This became clearly evident during our discussions.«
All for One
Lars Landwehrkamp, the Chief Executive Officer of All for One Midmarket AG: »The entire process has been superbly prepared. You can actually see just how important the success of this merger is for all the parties involved. Our plans for this combined company point clearly in the direction of size, selling strength, SAP Outsourcing Services and comprehensive expertise to include in SAP's future fields. Doing this will put us on an outstanding footing.«
About All for One Midmarket AG
All for One Midmarket AG ranks as one of the leading SAP full-service providers for the mid-size business market where German is spoken. The SAP Gold Partner's portfolio comprises end-to-end solutions along the whole of the IT value chain – from SAP industry solutions to outsourcing services and application management. As a one-stop-shop for all SAP-related services, All for One Midmarket AG is a reliable general contractor for small and medium enterprises. With more than 400 employees, it serves over 1,000 clients among machinery and equipment manufacturers, automotive suppliers and project and engineering service providers. As a founding member of United VARs, the global network of leading SAP partners for small and medium enterprises, All for One Midmarket AG guarantees a comprehensive consulting and service portfolio as well as the best local support in more than 56 countries.
In the financial year 2009/10, All for One Midmarket AG achieved a turnover of EUR 78.8 million. The company is listed in the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0005110001, WKN 511 000).
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All for One Midmarket AG, Dirk Sonntag, Tel. 0049 (0)711 78807-260, E-Mail [email protected]
End of Corporate News
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| Language: | English |
| Company: | All for One Midmarket AG |
| Gottlieb-Manz-Straße 1 | |
| 70794 Filderstadt-Bernhausen | |
| Germany | |
| Phone: | +49 (0)711 78 807-260 |
| Fax: | +49 (0)711 78 807-222 |
| E-mail: | [email protected] |
| Internet: | www.all-for-one.com |
| ISIN: | DE0005110001 |
| WKN: | 511000 |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart |
| End of News | DGAP News-Service |
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| 139508 15.09.2011 |