Ad-hoc: EASY SOFTWARE AG announces takeover of CFT Consulting GmbH
As announced in an ad hoc release by EASY SOFTWARE AG (ISIN DE0005634000) on December 13, 2013, EASY will take over CFT Consulting GmbH of Bobingen, Germany, as a majority-owned company. This purchase is part of the growth strategy announced by EASY and will take several years. EASY is strengthening its market position with this purchase. CFT will continue as an independent company.
EASY SOFTWARE AG intends to purchase all shares in CFT Consulting GmbH, incl. its shareholdings. The Mülheim-based company today has reached broad consensus with the partners of CFT Consulting GmbH on purchasing the shares over a period of four years. Initially, EASY purchases 60% of shares; it will purchase another 25% after two years, and the remaining 15% of shares after four years. This takeover is financed from EASY’s own resources.
For more than 20 years, CFT Consulting has been one of the most successful partners of EASY SOFTWARE. CFT has been an expanding and profitable enterprise for many years. In 2012, with sales amounting to €11.6 million, CFT has achieved an annual net profit amounting to €1.73 million. The company expects a similarly successful course of business for 2013.
Over 40 employees support more than 1,800 customers with products from EASY SOFTWARE. CFT has very specific business knowledge. The company develops and sells solutions and services specifically tailored to meet the needs of particular industries and departments, contributing a particularly high level of added value. These customers include renowned companies such as HAMA, Amway, Seidensticker, and Zott. Closer proximity to the software manufacturer will help CFT Consulting to continue improving these solutions and services, and to further expand its penetration of the market.
With its added value activity being successful over many years, EASY SOFTWARE has solid liquidity. The CFT Consulting takeover is proof of consistent implementation of its announced growth strategy. EASY SOFTWARE will therefore further expand its current market share of 18.2%*. The Mülheim-based company will also use its liquidity in 2014 to expand its market share through organic and inorganic growth.
Comments Gert Lorenz, managing director of CFT Consulting GmbH: “The focus of recent years on EASY SOFTWARE products and trusting cooperation between the employees of both companies are still the best basis for a continuing and successful company strategy.”
Andreas Nowottka, CEO of EASY SOFTWARE AG, continues: “We are delighted to acquire with CFT Consulting a company extremely customer-focused. All our customers will benefit from this knowledge of our products, solutions, and services.”
Willy Cremers, CEO of EASY SOFTWARE AG, adds: “Because owing to its proximity the CFT branch in Wuppertal will merge with EASY SOFTWARE in Mülheim, this will immediately strengthen EASY’s direct sales business.”
About CFT Consulting GmbH
CFT was established in 1994 by former executives of NCR Germany / AT&T Gert Lorenz and Ralf Otto, with the idea of putting customers first very much in mind.
Today, CFT is a software company with Europe wide operations centered around document and content management. As a direct partner of EASY SOFTWARE, and with more than 1,800 customers, CFT one of the most dynamic providers of modern DMS solutions in this market segment.
About EASY SOFTWARE AG
Established in 1990, EASY SOFTWARE AG has since been focusing on electronic document and data archiving, as well as document and content management. EASY software captures any type of bulk data, structuring and organizing document flow. It ensures revision-proof long-term archiving and holds contents and information ready enterprise-wide regardless of time and location. This eliminates the need for long searches, the result being no data loss and paper inundation in overflowing archive shelves.
With more than 11,500 customer installations, EASY SOFTWARE AG of Mülheim an der Ruhr (Germany) is a leading developer and provider of multi-platform solutions in the electronic archiving, document management and enterprise content management sectors.
* According to ama DMS/ECM analysis in October 2013