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Rautenberg & Company advises Allgeier on the acquisition of iQuest.

The team around Gero Steinröder advised the management board of Allgeier SE on the takeover of iQuest Group. Allgeier SE, Munich (WKN A2GS63), accelerates its development into an international software development company with a further acquisition and signed a purchase agreement on August 14 to acquire a majority stake in the software development company iQuest.

iQuest is an international software development company with around 700 highly qualified employees in the development centers in Cluj, Bucharest, Sibiu, Brasov and Craiova in Romania and at other locations in Germany, Switzerland and Poland. The company develops individual software solutions for major international customers, particularly in the life sciences, telecommunications, financial services, transport and energy sectors. iQuest was founded in 1998 and generates revenues of more than EUR 30 million with an adjusted operating EBITDA margin of around 15 percent. The founder of iQuest will retain a 21 percent stake in the company, with operational management holding a total of approximately 12 percent.

Allgeier SE is one of the leading IT companies for digital transformation: Three segments with individual technical and industry-related focal points work together for around 3,000 customers from almost all sectors. With approximately 8,000 employees and about 1,400 freelance experts, Allgeier offers customers a broad portfolio of solutions and services as a one-stop shop. With its highly flexible delivery model, Allgeier covers the entire IT service spectrum from onsite to nearshore to offshore: With strong footholds in India and China, flexibility and optimum scalability of services as well as sophisticated expert knowledge in high-end software development are ensured.

The Rautenberg & Company team advised and supported the buyer throughout the entire process, in particular by preparing a focused commercial due diligence with special focus on analyses focused on the target’s business plan (order backlog, sales pipeline, service delivery capability).

 Rautenberg & Company advises Allgeier on the acquisition of iQuest.

Quick Facts

Date

  • August 2018

Allgeier SE

  • One of the leading IT companies for digital transformation
  • Broad portfolio of solutions and services as a one-stop shop with 8,000 employees and 1,400 freelance experts
  • Revenue (continued) 2017 of EUR 574m

iQuest

  • Developer of individual software solutions for international customers from life science, telecommunications, FinTech, transport and energy
  • 700 highly qualified employees in development centers in Cluj, Bucharest, Sibiu, Brasov and Craiova in Romania and at other locations in Germany, Switzerland and Poland
  • Revenues of more than EUR 30m with adjusted operating EBITDA margin of 15%

Deal Size

  • Double-digit million euro amount, divided into initial payment at closing and pro-rated payments due at a later date

Services

  • Preparation of a commercial due diligence and validation of the company’s business plan

Team

  • Arndt Rautenberg, Managing Partner
  • Gero Steinröder, Director
  • Lars Klinger, Senior Associate