Transaction Details

May 2, 2019
Frankfurt

Sector

Technology, Business Services

Deal Type

M&A

Deal Value

N/D

Deal Team

Sascha Pfeiffer, Malte Abrams, Eric Erbeck, Marius Becker

GCA Altium advises DBAG Fund VII on the acquisition of Catalysts

GCA Altium has advised DBAG Fund VII, advised by Deutsche Beteiligungs AG (DBAG), on the acquisition of Catalysts GmbH, a leading provider of agile software development services based in Linz, Austria. DBAG Fund VII has also acquired a majority stake in Crisp Research AG, an IT research and consulting company specialising in cloud computing, as part of a management buyout and is combining the two companies to form Cloudflight, a unique IT services company focusing on digitisation and cloud transformation.

Cloudflight will comprise a group of companies that provide a new type of digital service, supporting SMEs, public authorities and enterprise customers in implementing and accelerating their digital transformation. In the future, Cloudflight will be able to provide comprehensive support to customers through around 350 software and cloud experts, from strategic digital consulting as well as platform and architecture design to software development and round-the-clock cloud operation. Catalysts is contributing its software development expertise to the group while Crisp Research, with its team of experienced digital strategists and cloud architects, provides customers with technology-independent consulting services. Both companies boast long-standing customer relationships, strong growth and a high level of expertise in digital trend topics such as cloud computing, the Internet of Things and Artificial Intelligence in their respective business areas. Further acquisitions are planned as part of a growth strategy.

"Established providers of software and IT services offer significant potential for growth and value appreciation,” Torsten Grede, spokesman of DBAG's Management Board, commented, “What convinced us was, above all, the team's entrepreneurial vision, together with strong growth momentum in the market environment Cloudflight is operating in."

Lucas Herbert, Managing Director of DBAG, commented: “We are delighted to unlock the full growth potential of these unique businesses in the next years. We firmly believe in the continued success of these excellent companies, and we look forward to partnering with their entrepreneurial management teams to further develop the businesses. We would like to thank GCA Altium for providing us with strong technology sector advice and guidance throughout the entire process."

Sascha Pfeiffer, Managing Director at GCA Altium, said: “We are very pleased to have advised our longstanding client DBAG on the acquisition of this high growth digital transformation services company and are convinced that Cloudflight will become an important strategic player in this rapidly evolving market."

Completion of the purchase agreement is subject to the approval of the antitrust authorities and is scheduled for June 2019. The parties have agreed not to disclose the purchase price.

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