Allgeier SE — M&A Activity 2011

Jul 15, 2011

News Details

Ad-hoc | 15 July 2011 00:10

Allgeier continues to drive international expansion

ALLGEIER HOLDING AG / Key word(s): Acquisition

15.07.2011 00:10

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Munich, 14 July 2011 - Allgeier Holding AG (WKN DE000508300) today signed a
contract with the shareholders of IT solution provider and software
developer Nagarro Inc. to acquire all shares in the company. The transfer
of all the shares (closing) is dependent on compliance with the usual
contractual terms and is expected to be completed within the next few days.
The company, which has its headquarters in the Silicon Valley, USA, has
subsidiaries in Germany, Sweden, India and Mexico.

Nagarro is a high-end software service provider which develops tailored
software solutions. Among the company's key customers are major
corporations in the USA and Europe which bank on Nagarro's expertise and
reliability in providing and developing key internal applications. In 2010,
Nagarro achieved sales of approx. USD 22 million with a worldwide staff of
840. The company, which was established in 1996, has seen constant major
growth in both sales and profits for many years now. The initial purchase
price is in the low 2-digit million euro range and may well rise within the
coming three years to somewhere in the mid-2-digit million euro price range
when the company's earn-out targets are fully realized. The existing
shareholders of Nagarro Inc. will continue to have operational
responsibility and serve as managing directors.

To Allgeier, the transaction is a strategic move at an international level
so as to conquer key markets. Given the predicted shortfall in IT experts
in German-speaking countries, the company will thus gain access to highly
qualified IT staff in global locations. Add these resources to the existing
specialists in Allgeier's group of companies and customers will find that
all of their requirements can be fully covered even in global projects.
Another factor behind this transaction is to enhance the service portfolio
of the Allgeier Group in terms of both valuable knowledge of
state-of-the-art technology as well as geographical reach.

Press contact
Allgeier Holding AG
Florian Kränzle
Wehrlestraße 12
81679 Munich, Germany
Telephone: +49 89 998421-0
Fax: +49 89 998421-11
E-mail: fkraenzle@allgeier-holding.de

Allgeier Holding AG, with its headquarters in Munich, is one of the leading
consultancy and service companies in the German-speaking countries. With
their units IT Solutions, IT Services & Recruitment and Project Solutions,
Allgeier offers a comprehensive range of services from the initial concept
through implementation to the operation of IT landscapes. Allgeier Group
has 16 operational subsidiaries with over 1,300 employees as well as more
than 1,400 freelance experts serving some 3,000 customers in virtually
every area of the economy. In Germany, the Group runs 52 subsidiaries as
well as 18 offices in Belgium, France, the Netherlands, Austria, Romania,
the Czech Republic, Switzerland and China. During the 2010 financial year,
Allgeier achieved sales of EUR 308.7 million. According to Lünendonk's
market segment survey in 2010, Allgeier ranks no. 2 among the medium-sized
IT service companies and no. 2 among IT recruitment companies in Germany.
The company is listed on the official market (General Standard) at the
Frankfurt Stock Exchange.

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Language: English
Company: ALLGEIER HOLDING AG
Wehrlestraße 12
81679 München
Germany
Phone: +49 (0) 89 - 99 84 21 0
Fax: +49 (0) 89 - 99 84 21 11
E-mail: info@allgeier.com
Internet: http://www.allgeier.com
ISIN: DE0005086300
WKN: 508630
Indices: CDAX
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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