Wincor Nixdorf has acquired a 51% stake in Bankberatung, a provider of IT consultancy and services to German retail banks. Financial terms of the deal were not disclosed.
Formed in 1988 Bankberatung, which is headquartered in Wedemark near Hanover, currently employs over 50 people and generated revenues of more than EUR11 million in fiscal 2007.
Wincor Nixdorf says the acquisition will help it improve its branch and self-service offerings with Bankberatung bringing expertise in back-office and core banking processes.
Bankberatung will continue to be headed by founder Ulrich Fichte and Peter Cuypers, with the firm retaining its current business model and looking after its own customer base.
"The banking organisation and solution consulting offer from Bankberatung empowers us to support retail banks throughout all phases of their change processes. These range from banking consulting and process design to IT solution consulting and integration and, ultimately, IT operations management and outsourcing," says Stefan Auerbach, board member responsible for banking business, Wincor Nixdorf.
Wincor Nixdorf says the acquisition is part of its strategy to provide a range IT systems and services to the banking sector rather than just hardware. In April it took a 51% controlling stake in prosystems IT, a provider of outsourcing services to German savings banks.