This deal might look modest in amount, but it is a very rare case of a Russian acquisition in Germany in the field of IT. Softline, a Moscow-headquartered international solution and service provider, is taking control of the almost eponymous German IT company Softline AG.
The Russian group has agreed to acquire 63.38% of the German company, which is listed on the Frankfurt and Munich stock exchanges. The transaction is slated for completion in the first quarter of 2021.
Business daily Kommersant made the maths: based on the current stock price, the acquirer will put some €7.6 million in the deal.
“Softline AG’s consulting capabilities in Software Asset Management and managed services are essential for the management of cloud and increasingly complex software-licensing. Their approach helps IT leaders to improve and identify tools and strategies that effectively evaluate and manage IT”, says Softline founder and Chairman Igor Borovikov.
“The new approach with Softline AG provides access to substantial expertise and skills. Combined with our go to market sales coverage around the world, this offers huge growth opportunities for the two companies. It is an important strategic step into Europe and the globalization of our business”, the Russian businessman added.
German Softline AG was founded in 1983. The company operates in the Germany, Austria, the Netherlands, Switzerland, Belgium and the UK. Its revenue reached €19.1 million in the first 9 months of this year, according to Kommersant.
Born in Russia in 1993, Softline is now an international group with offices in 55 countries and 95 cities — mostly in Eastern Europe, the Americas and Asia. Its offering focus on digital transformation and cybersecurity. In 2019, the group’s turnover exceeded $1.54 billion.
Sources: Softline AG, Kommersant
