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SNP acquires American company GL Consulting in asset deal

Strategic acqusition to further expand solution portfolio.


Heidelberg, Germany, 24 Aug 2013

The Heidelberg-based German company SNP Schneider-Neureither & Partner (ISIN DE0007203705) is acquiring the New Jersey-based US company GL Consulting, as well as its wholly-owned subsidiary CETOVA CORP, in an asset deal. The management of GL Consulting and the Executive Board of SNP came to an agreement. The Supervisory Board of SNP has already approved the purchase, which is to be completed within the coming weeks. The total purchase price will be in the single-digit million euro range.

In 2012, GL Consulting generated a consolidated total revenue of more than five million US dollars. The owner-run company offers consulting services as well as a software-based approach for the transformation of ERP systems of the Oracle Group. With the experience and technology of GL Consulting and CETOVA CORP, SNP is able to expand its portfolio of consulting services and, in particular, to further develop its SNP Transformation Backbone software to include transformation scenarios for ERP systems of the Oracle Group.

The ERP market in non-German-speaking markets is diverse. According to a long-term study conducted in 2012 by the US consulting firm Panorama Consulting, SAP is the global ERP market leader with a 22% market share. Oracle (JD Edwards, Peoplesoft) is ranked second with 15%, and Microsoft (Dynamics) third with 10%. Hence, the rest of the market (53%) uses other ERP or legacy systems. With the acquisition of GL Consulting and CETOVA CORP, SNP will secure access to Oracle customers.

"This acquisition supports our strategy of helping companies transform all types of ERP systems. Mid-2013, we signed an OEM agreement with SAP, which allows us to integrate the SAP Data Services software for the migration of data from legacy systems into our standard software SNP Transformation Backbone. And now we have access to Oracle installations. Especially in markets such as the US and Asia, this is a strategic success factor for our growth," said Dr Andreas Schneider-Neureither, CEO of SNP.

GL Consulting delivers technology and an approach that helps companies with transformations of Oracle business applications. The Java-based software solution supports all typical scenarios such as mergers, splits, and harmonising. The software operates on the database-level and handles all types of mapping, from easy to complex. Similar to SNP Transformation Backbone, the predefined content - the information on internal structures of the ERP system - is a core element of the software.

"This new solution that can be combined and used with SNP Transformation Backbone is available immediately to our customers. The technical integration will be delivered as part of our product roadmap," Dr Schneider-Neureither added. .

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SNP

SNP helps companies react rapidly to changes in their business environment. The solution SNP Transformation Backbone enables companies to adapt their IT landscape more quickly and economically to changing market conditions. SNP Transformation Backbone is the world's first standard software solution that automatically analyses changes in IT systems and implements them in a standardised way. The solution is based on the experience SNP has gained in more than 1 500 projects worldwide with its software-related services for Business Landscape Transformation.

In 2012, more than 200 employees in Europe, South Africa and the USA achieved sales of EUR27.2 million. The headquarters of the company, founded in 1994, is Heidelberg. SNP went public in 2000 and has been listed in the General Standard segment of the Frankfurt Stock Exchange since 2003.

For further information, please visit: www.snp-ag.com.

Editorial contacts

J"org Petzhold
Schneider-Neureither & Partner
(+49) 0622 1642 5270
joerg.petzhold@snp-ag.com