Acquisition of application management and cloud specialist BIT.Group GmbH

acquisition

Bautzen-based BIT.Group GmbH and itelligence AG are pleased to announce the 100% acquisition of BIT.Group GmbH by itelligence AG. With this acquisition, itelligence is cementing its position as one of the leading IT service providers in Germany with a strong focus on cloud and SAP managed services.

itelligence AG remained on its growth path in the first half of 2016, increasing its revenues by 10.8% from MEUR 322.8 to MEUR 357.7. This development was attributable to both organic growth (8.4%) and the companies acquired last year (2.4%). Project start-up and acquisition costs had a disproportionate impact on earnings in the first half of the year. Orders on hand climbed by 3.7% to MEUR 661.0 as of June 30, 2016 (June 30, 2015: MEUR 637.7).

Herbert Vogel, CEO of itelligence AG, commented: „With the acquisition of BIT.Group GmbH, we are pursuing our proven, successful strategy of being one of the leading SAP partners, particularly for the latest technology and corporate trends.“

– Follow this link to read the full press release

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