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iQuest chooses international Allgeier technology Group as new majority shareholder

14 August 2018   |   BizLawyer

This transaction marks another important step to continue the internationalization of Allgeier and to further expand our competence in the development of complex software solutions for business-critical enterprise processes.

 
 
At its 20th anniversary, technology group iQuest joins Munich-based international technology group Allgeier SE. Today, Allgeier SE and iQuest signed a definitive agreement in which Allgeier acquires two thirds of the shares of iQuest. iQuest continues to be run independently and will collaborate closely with the Allgeier Group to consolidate its presence in Europe and extend to other markets, such as the USA, while further developing its software services and solutions portfolio.

The acquisition is subject to approval by the cartel authorities in Germany and other closing conditions. The purchase agreement is expected to be concluded within the next four to six weeks. Allgeier will then acquire approximately 67 percent of the shares for a purchase price in the double-digit million Euro range. Cornelius Brody, the founder of iQuest, will retain a 21 percent stake in the company for the next few years. The operating management holds a total stake of approximately 12 percent.


„With Allgeier, we have found a strong international partner for the further strategic development of iQuest. Allgeier’s global reach provides us with very promising opportunities for expansion and rapid growth. This acquisition is part of our long-term strategy and supports us in reaching our vision to enable our clients to accomplish unique success with iQuest’s outstanding delivery of innovative solutions”, said Jürgen Samuel, CEO of iQuest Group. “Together, we will have a much broader geographical coverage, excellent market and customer access, and a broader range of expertise. We will also be able to offer a wide range of additional services to our clients, as well as creating new career opportunities for our people.”

“We are very pleased to have gained iQuest as an outstanding partner and many excellent new colleagues to accelerate the joint growth of our software development business. This transaction marks another important step to continue the internationalization of our Group and to further expand our competence in the development of complex software solutions for business-critical enterprise processes”, said Carl Georg Dürschmidt, CEO of Allgeier SE. “We are convinced that not only both sides but above all our customers will benefit sustainably from this step.”

„The long-term partnership with Allgeier is a strategic step which will enable iQuest to expand its services and global presence in the years to come. It is a partnership with a strong, resourceful team we came to respect and trust. As the founder of the company, I am extremely pleased to contribute sowing the seeds for a future growth of iQuest in line with our vision and values. On a more personal level, 20 years after founding iQuest, I am happy to keep contributing as a shareholder to the partnership that we launch today“, said Cornelius Brody, Founder of iQuest Group.

iQuest is an international IT services and solutions provider with more than 20 years of experience in delivering an extensive portfolio of personalized software solutions, products and integration services. By successfully combining technical expertise and excellence in services, iQuest brings long-term value to leading companies in Life Sciences, Telecom, Financial Services, Transport and Energy. Headquartered in Germany, iQuest has local teams in Poland, Switzerland, Romania and the USA, currently employing more than 650 employees.

Allgeier SE is one of the leading IT companies for digital transformation. The Munich-based Group has locations in 23 countries on five continents and over 9,000 employees worldwide, including 5,500 high-end software developers and more than 1,000 SAP and Microsoft consultants at locations all over Europe, USA, Mexico, Japan, Australia, India, Singapore, Malaysia, Vietnam and China. Some of the world’s largest companies, including Siemens, GE, Intel, Google, IBM, Lufthansa, Pfizer, Allianz, AT&T, Audi, BMW and Daimler, benefit from the Allgeier Group’s entire IT service spectrum, from onsite to nearshore to offshore.
 
 

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