Frankfurt Stock Exchange-listed update software AG (FWB:UP2), one
of Europe's leading providers of premium CRM solutions with its
headquarters in Vienna (www.update.com), has taken over 100 percent of
German CRM specialist ORGAPLAN Software GmbH (www.orgaplan.de). The
deal was closed in Cologne on Thursday, April 26, 2007. The
acquisition process was conducted with the involvement of aspect
corporate advisors GmbH, an independent M&A advisory company seated in
Bad Honnef. The purchase price in the amount of EUR 5.8 million will
be paid on the basis of a 2-year earn-out model. With this takeover,
update is continuing its strategy of sector focussing and is
consistently expanding its technology and competence leadership in CRM
systems for the financial services segment. "By merging ORGAPLAN with
the currently existing competence center for financial services,
update will have the largest customer base in the German banking
market and, at the same time, the most comprehensive portfolio of
tailored CRM solutions for the banking & finance sector," explained
update CEO Thomas Deutschmann. "The acquisition is a further step in
our strategy of growth through sector focussing. At the same time,
update is playing an active part in the consolidation process in the
CRM market."
With approximately 200 customers, ORGAPLAN Software GmbH is the
leading provider of CRM solutions in the German banking and savings
bank sector. The company's customers include more than half of the
savings banks and public-sector credit institutions in Germany and a
third of the big commercial and agricultural credit cooperatives.
Besides its headquarters in Cologne, ORGAPLAN operates a branch in
Hanover and has approx. 60 employees. Since Dr. Hans-Ulrich Krauss and
Burkhard Demming founded the company in 1987, it has won itself an
excellent reputation among Germany's banks and savings banks through
its advisory activity and its self-developed CRM software KBP
("Kunden-Betreuungs-Programm"). The two founders will remain in key
positions at the company following the takeover. Given that the two
solutions of update and ORGAPLAN cater to disjoint market segments and
have been successfully established in the market for years, after the
takeover update will pursue a two-product strategy for the financial
services market - with life-time support for both products.
About update software AG
Founded in Vienna in 1988, update software AG (www.update.com) is
Europe's leading provider of premium CRM solutions, with currently
more than 200 employees and annual revenues of EUR 23.4 million in
2006. update software AG is listed on the Frankfurt am Main Stock
Exchange. update products are used by more than 120,000 employees at
over 1,000 companies. References include 3M, American Express Bank und
Finanzmanagement, the Advertisements Department of the BILD newspaper
group, AstraZeneca, BAWAG P.S.K., Canon, DuPont, ESTAG, Hassia Gruppe,
HVB, Landesbank Rheinland-Pfalz International S.A., LBS Nord, LBS Ost,
MagnaSteyr, Pernod Ricard, Sony Deutschland, Sparkasse Bremen and
ratiopharm. update software AG cooperates with carefully selected
systems integration partners such as Atos Origin, Hewlett Packard,
Sensix and Steria Mummert Consulting.
