Deal Announcement 09/14: Service Industries
PwC Germany acquired 100% of shares in IT consulting firm cundus AG
The Deal
On 26 September 2014, PricewaterhouseCoopers AG Wirtschaftsprüfungsgesellschaft (“PwC Germany”) acquired 100% of the shares in cundus AG ("cundus"), one of the leading IT specialists in the European market for customized solutions in Business Intelligence (BI), Corporate Performance Management (CPM), External and Regulatory Reporting, and Extensive Business Reporting Language (XBRL).
PwC Germany won a competitive process with international financial and strategic investors.
cundus AG
Founded in 2000, cundus was an independent consultancy with longstanding expertise in SAP, Microsoft, and IBM technology solutions. Cundus clients include over 20 DAX companies, international mid-sized companies, and European financial regulatory authorities. The cundus service offering covers the entire end-to-end spectrum of IT solutions from strategy and design to execution and implementation. Cundus has a workforce of 150+ employees spread across offices in Duisburg, Frankfurt, and Munich.
PwC Corporate Development & Deal Advisors
PwC Germany was advised by PwC’s legal, financial, and tax due diligence specialists in Germany, Switzerland, UK, US, and Canada. PwC partners and teams of Technology Consulting and corporate functions such as OCG, Independence Office, Risk Management, Human Capital, Partner Affairs, Corporate Tax, Corporate Treasury, and Communications helped to assess, prepare, and realize the acquisition.
PwC
PwC firms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 195,000 people in 157 countries in firms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. In Germany, PricewaterhouseCoopers AG Wirtschaftsprüfungsgesellschaft generates approximately €1.55 billion in gross revenue at 28 locations with 9,300 employees.
"PwC" refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see http://www.pwc.com/structure for further details.
