Dortmund/Walldorf | 28. May 2021
adesso has concluded an agreement with the shareholders of KIWI Consulting EDV-Beratung GmbH (KIWI Consulting) to acquire 70% of the shares. The debt-free, growing and profitable company from Walldorf achieved a turnover of over EUR 27 million and an EBIT of around EUR 3.4 million in 2020.
Like adesso, KIWI Consulting offers customised IT consulting and software development, with an industry focus on banks, public-sector clients and mortgage lenders. In particular, KIWI Consulting holds large-volume framework contracts with the Deutsche Bundesbank in the area of individual payment transactions and securities processing of the Eurosystem. So far, the projects have mainly been staffed with external specialists.
adesso is well positioned in the core sectors of banking and public administration with numerous in-house consultants and sees opportunities for the further expansion of these adesso core industries through the cooperation within the adesso Group. Synergy potentials arise from the bundling of finance expertise also in the area of public clients, in the staffing of framework agreements already won as well as from the mutual development of customer groups that overlap only slightly.
As part of the acquisition, adesso will initially acquire a majority stake of 70% for a purchase price of up to EUR 16 million, depending on the company's targets achievement in the current financial year. The acquisition is subject to approval by the German Federal Cartel Office. The two managing partners of KIWI Consulting will retain a minority stake and will continue to develop the operational business of the company within the adesso Group in the future.
adesso also plans to acquire the remaining shares by 2024.