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MarketScreener Homepage  >  Equities  >  Xetra  >  GFT Technologies SE    GFT   DE0005800601

GFT TECHNOLOGIES SE

(GFT)
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GFT Technologies : acquires AXOOM and strenghtens partnership with Trumpf

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07/02/2019 | 06:13am EDT

Stuttgart, 2 July 2019 - GFT Technologies SE today announced an agreement to acquire the expertise of TRUMPF subsidiary AXOOM and enter into a development partnership with TRUMPF. With effect from 1 July, GFT took over AXOOM's experts in Karlsruhe with their cross-segment IT and industry expertise. Moreover, GFT's long-standing cooperation with TRUMPF has been strengthened by the establishment of a development partnership.

This strategic milestone represents an acceleration of GFT's industry drive and an expansion of its industrial expertise, as well as the addition of a new location in Karlsruhe. GFT's in-depth IT and industry expertise will assist companies in various industrial segments with the digitalisation of their business. GFT offers comprehensive consulting and implementation services in the field of future-oriented technologies - from cloud engineering to artificial intelligence and the Internet of Things for Industry 4.0.

Joint projects with TRUMPF will focus on the rapid further development of machine software to facilitate the implementation of networked production and Smart Factory solutions. TRUMPF will also continue to use the AXOOM brand in this context.

Industrial sector is a growth market for GFT

GFT's growth strategy includes a diversification of its sector and client structure. The main focus here is on the industrial sector, in which GFT already works together with key clients.

Marika Lulay, CEO of GFT Technologies, states: 'The acquisition of the AXOOM team is part of our investment strategy for the expansion of industry expertise, whilst the development partnership with TRUMPF will pave the way for a faster and broader expansion of our industry offering. This drive, by the way, will be spearheaded from GFT's core location in Germany.' In addition to Stuttgart, AXOOM's site in Karlsruhe will become a further location for GFT, with close proximity to customers in the south of Germany.

TRUMPF focusing on machine connectivity at its main base in Ditzingen

TRUMPF itself plans to focus on the business of its own customers and industrial IoT processes. The further development of machine connectivity and platform activities will therefore be pooled in future at its main base in Ditzingen. Some of these solutions were previously developed by its subsidiary AXOOM in Karlsruhe.

Mathias Kammüller, CDO of TRUMPF, states: 'We are convinced that this reorganisation of TRUMPF and the development partnership with GFT will enable us to implement our digital ambitions in sheet metal manufacturing even faster and more effectively, while also expanding our proven expertise in industrial IoT and Smart Factory solutions more swiftly.'

New GFT employees offer numerous opportunities for in-depth client consulting

By becoming part of the entrepreneurially-minded GFT Group, the acquisition offers a wide range of opportunities for the AXOOM experts. They can provide in-depth consulting in the industrial sector and develop solutions and client implementations in the field of pioneering technologies - from cloud engineering to artificial intelligence, the Internet of Things for Industry 4.0 and blockchain.

'Like Industry 4.0 technology itself, we are developing fast. The AXOOM employees combine innovative IT expertise with industry know-how. I am delighted to welcome them into our global team and offer their extensive and comprehensive consulting expertise to our clients,' added Marika Lulay.

Disclaimer

GFT Technologies SE published this content on 02 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 July 2019 10:12:04 UTC

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Financials (EUR)
Sales 2019 418 M
EBIT 2019 20,8 M
Net income 2019 15,6 M
Debt 2019 43,1 M
Yield 2019 3,62%
P/E ratio 2019 13,5x
P/E ratio 2020 11,1x
EV / Sales2019 0,61x
EV / Sales2020 0,56x
Capitalization 211 M
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M. A. Roswitha Lulay CEO, MD & Member-Administrative Board
Ulrich Dietz Chairman-Administrative Board
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Andrew Rossiter Head-Technology Services
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