DGAP-News: adesso AG takes over business intelligence specialist flitcon GmbH

Corporate News

adesso takes over business intelligence specialist flitcon GmbH

Dortmund, 15 September 2016 - The IT service provider adesso AG has acquired flitcon GmbH. By taking over a 100 % stake in the business intelligence specialist based in Düren, near Cologne, adesso has expanded its portfolio to include technologies and services that are growing increasingly important, especially for banks and insurance companies.

flitcon GmbH, which has been purchased by adesso, develops high-performance solutions for the business analytics and business intelligence software made by leading global manufacturer SAS. The flexible and fast analysis of large quantities of data is of increasing importance for a comprehensive overview of customer relationships at banks and insurance companies. It also opens the door to new approaches to business and to communication options. Big data and business intelligence are growing much faster than the overall market and are essential for the Internet of Things.

flitcon has been retroactively taken over in full with effect from 1 July 2016. The company's current team of 15 employees will be subsequently integrated into adesso AG. The company generates EBITDA of approximately EUR 0.5 million. The managing director and founder of flitcon, whom adesso knows from joint client projects, will advance adesso's business intelligence activities as head of the corresponding department. The debt-free company is valued at an EBIT multiple of less than 5.

You can find this and further information regarding the capital market on our
investor relations sites at:
http://www.adesso-group.de/de/investorrelations/

Contact:
Christoph Junge
Vorstand
Tel.: +49 231 7000-7000
E-Mail: [email protected]