DGAP-News: Merger of smarthouse adesso financial solutions GmbH and adesso AG completes integration process in the Banking division

Merger of smarthouse adesso financial solutions GmbH into adesso AG completes integration process in the Banking division

The subsidiary, which was fully acquired in 2016 as Smarthouse Media GmbH and subsequently renamed smarthouse adesso financial solutions, is set to form part of the Banking division within the adesso Group. The merger agreement was signed today.

smarthouse is a specialist provider of digitalisation solutions in the banking and finance industry and has worked closely with the Banking division at adesso AG since its acquisition. The activities and services centred on website and marketing solutions have been brought in line with the adesso portfolio, and employees have also been consolidated at the company's locations. Merging the business activities is the final step in the company's integration into the adesso Group and will facilitate the pooling of competencies.

smarthouse has successfully designed, developed and operated websites and applications with product and market data over the past few years. In doing so, it has contributed to the digitalisation of banks and stock markets. The merger will link adesso's technological and specialist expertise in the area of financial service provision even more closely with the IT project, product and service business of smarthouse, which focuses on international investment banking. This will allow adesso to strengthen its own portfolio and intensify its sales activities. The Executive Board of adesso AG only anticipates minimal integration efforts thanks to the close relationship with smarthouse adesso financial solutions GmbH and the already advanced integration of the company into the adesso solution portfolio.

The merger is set to take effect as at 1 January 2020. As the sole shareholder of smarthouse adesso financial solutions GmbH, no merger resolution is required by the acquiring company, adesso AG, pursuant to Section 62 (2) German Transformation Act (UmwG), provided the shareholders of adesso AG do not demand that an Annual Shareholders' Meeting be convened to adopt a resolution consenting to the merger. Shareholder information will be published in the German Federal Gazette once the certified merger agreement has been submitted.

 

adesso Group
With over 3,700 employees and annual sales of EUR 375.6 million in 2018, adesso Group is one of the largest German IT service providers and has outstanding opportunities for growth. At its own locations in Germany, other locations in Europe, Turkey and the USA as well as at numerous customer sites, adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product-portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. 2016 and 2018, adesso was awarded as the best employer in the german IT-sector.