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adesso sells subsidiary e-Spirit to US company Crownpeak Technology

Dortmund | 19. March 2021

The Executive Board of the IT service provider adesso has reached an agreement with the US company Crownpeak Technology Inc. on the sale of its subsidiary e-Spirit AG. The wholly-owned adesso subsidiary develops and sells the internationally renowned content management product FirstSpirit.

Crownpeak Technology Inc. is acquiring not only the company and its international subsidiaries, but also the rights to the source code of the established hybrid content management system (CMS) FirstSpirit. The e-Spirit Group has over 150 employees. The company valuation of e-Spirit AG was based on the estimated future earnings potential due to the recent capital expenditures and the conversion from a classic license to a SaaS (Software as a Service) sales model.

adesso will continue to deliver on current contracts projects where they provide implementa-tion, maintenance and other services in connection with FirstSpirit. In addition, adesso will continue to be available to FirstSpirit customers as Crownpeak's "Premier Partner".

With this latest transaction, adesso continues to focus on its core business with industry-specific IT services and products. The sale to the US company opens up new business opportunities and development prospects for the long-standing subsidiary e-Spirit, which offers a product that is in demand across all industries. Crownpeak Technology is pursuing the goal of further developing the potential of e-Spirit and its employees, as well as the core product FirstSpirit itself, on the international market in a way that fits the theme perfectly.

Crownpeak is a provider of a complete solution for digital experience management with over 300 corporate customers and one of the first true SaaS CMS providers. The acquisition of e-Spirit extends Crownpeak market access in the EMEA region. With the technological expertise of the CMS specialist and its recently fully modernized core product FirstSpirit, Crownpeak is further expanding its own market position both nationally and internationally.

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