SNP AG Presses On With Internationalization and Takes Over South American ADEPCON Group

DGAP-News: SNP Schneider-Neureither & Partner AG / Key word(s): Takeover

20.07.2017 / 07:43
The issuer is solely responsible for the content of this announcement.


SNP | Corporate News

SNP AG Presses On With Internationalization and Takes Over South American ADEPCON Group

Heidelberg, Germany, July 20, 2017 - SNP Schneider-Neureither & Partner AG (WKN: 720370, ISIN: DE0007203705) will acquire 60% of all shares in the South American ADEPCON Group, effective August 1, 2017. The remaining 40% of the shares will be purchased over the next years. The ADEPCON Group consists of three subsidiaries in Argentina, Chile and Colombia, with respective offices in Buenos Aires, Santiago de Chile and Bogotá. Through the acquisition, SNP AG is continuing its targeted internationalization strategy in important global markets and is gaining new customers for a software-based transformation that uses SNP products and services. The takeover in South America was preceded by acquisitions in the U.S., in China, in Southeast Asia, in the U.K. and, most recently, in Poland. SNP AG will use existing liquid funds to finance the acquisition and also intends to use its own shares as financing. The parties have agreed to keep the purchase price confidential.

The history of the ADEPCON Group goes back around 20 years. The majority of its key clients are from Latin America and Europe, and mainly consist of insurance companies, private social security funds, media companies, pharma, retail, wholesale distributors, discrete production and utility companies. The ADEPCON Group has around 250 employees, of which more than 200 are SAP and IT consultants. The present management of ADEPCON will remain in charge of local operations and will ensure continuity of the company's long term service commitment to its Customers.

"The ADEPCON Group operates profitably, is closely linked to SAP and focuses mainly on projects with very large data volumes. This creates far-reaching potential for synergies for the SNP portfolio: The larger and more complex the data in a transformation project is, the more apparent the advantages of our software based transformation approach become. We extended our operations to Asia and North America and now we are also pursuing sustainable expansion of our global presence in South America," says Dr. Andreas Schneider-Neureither, CEO of SNP AG.

The ADEPCON Group has generated robust revenue growth in recent years. In the 2016 fiscal year, total revenue amounted to around $ 20 million. In the past few years, ADEPCON has reported stable average operating earnings before interest and taxes (EBIT) of around 9%.

The ADEPCON Group consists of ADP Consultores S.R.L. in Buenos Aires, Argentina, ADP Consultores Limitada in Santiago de Chile, Chile and the subsidiary ADP Consultores S.A.S. in Bogotá, Colombia.

About SNP

SNP helps companies adapt their business models and successfully utilize opportunities for digitalization with IT that is receptive to change. SNP's software and services make it possible to implement business or technical changes quickly and efficiently even in global business applications.

With CrystalBridge and Transformation Backbone with SAP LT, SNP provides the world's leading software suite for data transformations that automatically analyzes, implements and maintains changes to IT systems. This provides customers with clear qualitative advantages, while significantly reducing the time and expense involved in transformation projects.

The SNP Group has over 1,250 employees worldwide. Headquartered in Heidelberg, the company generated revenue of approximately EUR 81 million in 2016. SNP's customers are global corporations from all industries. SNP was founded in 1994 and has been publicly traded since 2000. As of August 2014, the company is listed on the Prime Standard segment of the Frankfurt Stock Exchange (ISIN DE0007203705).

Further information is available at www.snpgroup.com

Investor Relations Contact:

Marcel Wiskow
Tel: +49 6221 6425-637
Fax: +49 6221 6425-470
Email: investor.relations@snp-ag.com
https://www.snp-ag.com/investor-relations/

Further information is available at www.snp-ag.com



20.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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