DABERO Service Group, Munich, specialized in IT-Services has acquired a majority stake in the icubic AG, Magdeburg. Network Corporate Finance exclusively advised the shareholder Sparkassenbeteiligungsgesellschaft Sachsen-Anhalt mbH in connection with the transaction.
|Industry:||IT & Software|
|Description:||Sale to Financial Investor|
DABERO Service Group has acquired a majority in icubic AG, a software company from Magdeburg. Sparkassenbeteiligungsgesellschaft Sachsen-Anhalt has sold entire shares in the company. The transaction represents an important strategic milestone for the expansion of service and product portfolio for the DABERO Service Group. The management of icubic AG remains available to the company and will continue to develop the enterprise.
icubic AG produces, supports and operates software solutions and specialised software for the financial industry. Principal products include the standard software iQbonds, which allows for holistic market making and bond pricing. In addition, the company offers solutions for the repo, swaps, and derivatives trading as well as other applications. In 2013 the company acquired HighQIT, a consultancy services firm specialized in operational banking business. icubic’s customer base includes well known national and international financial institutions. icubic generated sales of approximately EUR 18 mn. in 2013.
For additional information on icubic AG: www.icubic.de