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    DGAP-News  149  0 Kommentare adesso supports international growth track in the Netherlands by acquisition of three Dutch software development companies

    DGAP-News: adesso SE / Key word(s): Takeover/Strategic Company Decision
    adesso supports international growth track in the Netherlands by acquisition of three Dutch software development companies

    04.11.2020 / 08:32
    The issuer is solely responsible for the content of this announcement.


    adesso supports international growth track in the Netherlands by acquisition of three Dutch software development companies

    adesso has acquired majority interests in three Dutch software development companies to support further growth in the Netherlands and to provide a sufficient size for adesso-typical IT projects. The companies Blue4IT, Codesquad and Bluefront, which were part of Blue Group IT, focus on the development of front-end and back-end software applications for parties such as banks, various multinationals, government institutions and therefore make a perfect match for adesso's strategy and market access. The transaction increases adesso's number of employees working in the Netherlands by 43. Transaction price is a middle single-digit million Euros. The managing directors of Blue4IT, Codesquad and Bluefront will remain involved as well operative as with a minority interest of together under 6 %. All three companies have been profitable and will contribute revenues of about EUR 4 million. The companies are expected to be consolidated from November 2020.

    Part of adesso's growth strategy is internationalisation with a local footprint. Based on this strategy, adesso Netherlands B.V. was founded in July 2019 with managing director Jan Heuker at the helm. With the acquisition of Blue4IT, Codesquad and Bluefront, adesso aims to further increase its footprint in the Dutch IT market. The three companies fully specialise in front-end, back-end and architecture with Java. The joining of forces between adesso and Blue Group IT results in an excellent symbiosis in which both parties can benefit from each other's knowledge and expertise.

    The cooperation between adesso, Blue4IT, Codesquad and Bluefront is promising, mainly because of its future development opportunities within the adesso Group. The collaboration on a high level of knowledge and experience instantly brings adesso Netherlands in the situation to tender for challenging projects with attractive clients to support further growth.

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    DGAP-News adesso supports international growth track in the Netherlands by acquisition of three Dutch software development companies DGAP-News: adesso SE / Key word(s): Takeover/Strategic Company Decision adesso supports international growth track in the Netherlands by acquisition of three Dutch software development companies 04.11.2020 / 08:32 The issuer is solely responsible …

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