GFT Technologies SE — M&A Activity 2011

Jun 9, 2011

News Details

Ad-hoc | 9 June 2011 07:44

GFT Technologies AG: Acquisition of 100 percent of the shares in Asymo AG

GFT Technologies AG / Key word(s): Acquisition

09.06.2011 07:44

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Stuttgart, 9 June 2011 - GFT Technologies AG, Stuttgart (ISIN DE
0005800601) signs purchase agreement for 100 percent of the shares in Asymo
AG.

With the consent of the supervisory board, GFT Technologies AG will today
sign an agreement for the purchase of 100 percent of the shares in Asymo
AG, one of the leading Swiss IT consultancy companies for the Avaloq core
banking solution. Completion of the transaction is expected to take place
today. This transaction marks a further step along GFT Technologies AG's
path of international growth.

IT consultancy firm Asymo specialises in services for the implementation
and maintenance of the Avaloq total banking system. In 2007 Asymo gained
the status of an official associate implementation partner. The service
portfolio ranges from software evaluation to process analysis and change
management, right through to implementation of core banking solutions.

The takeover of Asymo AG pushes the GFT Group's annual Swiss sales up to
some EUR 16 million. In future it will have a staff of more than 50 working
out of the offices in Zurich and Basle. With an Avaloq competence centre of
its own in Switzerland, the GFT Group plans to further expand its core
banking systems know-how. Due to investment and integration costs, Asymo
will presumably not make any appreciable contribution to profits in 2011.
However, thanks to the acquisition of Asymo the GFT Group foresees
sustained growth in Switzerland from 2012. The net operating margin of the
Swiss companies will rise from today's figure of 6 percent to over 15
percent in 2012; in this context the share of the Swiss companies in the
GFT Group's operating result is set to rise significantly from the current
6 percent to around 16 percent in 2012. The parties have agreed not to
disclose the purchase price.

GFT Technologies AG

Executive Board

Contact:
Andrea Wlcek
Director Global Marketing, Media & Investor Relations
GFT Technologies AG
Filderhauptstraße 142
70599 Stuttgart
Germany
T +49 711 62042-440
F +49 711 62042-301
andrea.wlcek@gft.com
www.gft.com

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Language: English
Company: GFT Technologies AG
Filderhauptstr. 142
70599 Stuttgart
Deutschland
Phone: +49 (0)711/62042-0
Fax: +49 (0)711/62042-301
E-mail: Investor-Relations@gft.com
Internet: www.gft.com
ISIN: DE0005800601
WKN: 580060
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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