SNP Schneider-Neureither & Partner has signed an agreement to acquire 100 percent of the shares in Datavard. The software and consulting company specializes in transformations and data management in SAP landscapes and generated total revenue of €17.6 million in fiscal year 2020 with around 170 employees.
The acquisition of Datavard plays an important role in the implementation of SNP's platform strategy; here, companies can generate maximum value from their data transformation using just one software solution. Gregor Stöckler, co-founder and CEO of Datavard, will strengthen SNP's board of executive directors as the new Chief Operating Officer (COO). He will be responsible for the sales regions USA and UK-Ireland, and globally for the areas of analytics, platform strategy, technology partners and partner marketing.
"With this acquisition, we are expanding our software portfolio to include the solutions of the Datavard in the areas of SAP data management and analytics. Both portfolios complement each other perfectly in the software and consulting business. Until now, SNP and Datavard have operated on the market as competitors and partners; in the future, we will use the newly gained strength from the merger of the two companies to serve our customers and partners more comprehensively."says Michael Eberhardt, CEO of SNP.
Strengthen and expand core business
Datavard has been active in the market for more than 20 years and focuses on transformations and data management in SAP landscapes. In the area of transformation, Datavard supports companies in the migration to S/4 Hana, in the modernization of the data warehouse and analytics landscape as well as in acquisitions and mergers, carve-outs and company splits. In the area of data management, Datavard offers solutions for data lifecycle management, business intelligence and analytics, as well as cloud connectivity solutions that enable customers to integrate and use SAP data in applications for artificial intelligence, machine learning and the Internet of Things.
"The sparrows have already whistled from the rooftops that there is something coming"explains the SNP CEO. "Both companies have been in SAP's 'Selective Data Transition' initiative for years. And we know each other, have been working together for years. Now the time was right for an acquisition."
Gregor Stöckler, founder and CEO of Datavard, has a similar view: "The industrial logic of the acquisition is compelling. We are extremely proud to join the number one in our market and still be able to offer synergies in our focus area. In this way, we are broadening the playing field for a joint SNP."
In addition to its headquarters in Heidelberg, Datavard has two large sites in Slovakia and a strong site in Switzerland. Furthermore, Datavard is also represented in the USA. "We look forward to the new employees strengthening and expanding our core business"says Heiner Diefenbach, CFO of SNP.
The consideration for the acquisition of all shares in Datavard is a cash component of around 20 million euros and the issue of 173,333 new shares from a capital increase through contributions in kind. An independent valuation has confirmed the appropriateness of the total purchase price. Taking into account Datavard's double-digit growth expectations for the current year, the purchase price corresponds to fifteen times Datavard's currently expected operating profit for 2021. The new shares will be issued to Gregor Stöckler and two other Datavard shareholders, all three of whom will remain with the company.
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