The remaining 20 percent shall remain mainly with Sempla's management and can be acquired by GFT via options after a five-year period. The purchase price is to be paid from liquid funds. The parties have agreed not to disclose the purchase price amount.

Sempla is one of Italy's leading IT consultancies, specialising particularly in IT solutions for commercial and private banking clients. Its offering comprises IT Services, Business Solutions and Digital Marketing & Design. With 460 employees at ten sites in Italy, the company generated revenues of over EUR 44 million in 2012 - 70 percent thereof with financial sector customers. In its financial year 2012, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 6.17 million with earnings before taxes (EBT) of EUR 4.08 million.

"Sempla's portfolio fits excellently with our own products in the GFT Solutions division," states Ulrich Dietz, GFT's CEO. "We see numerous interesting business opportunities with attractive clients. Together, we will become a leading supplier of IT solutions for financial service providers on the European market." The acquisition will benefit both sides: GFT can contribute its extensive knowledge in the field of investment banking to the Italian market and Sempla has proven expertise in the general banking sector. This experience offers GFT clear growth opportunities with existing and new clients.

GFT believes its entry into the Italian market will provide an extra boost to business. "Italy is one of the world's largest economic nations. Establishing a presence in Europe's fourth-largest IT market with almost 500 employees is a further important milestone for us. Sempla is the perfect fit for our business," says Dietz. GFT already serves individual clients today in Italy but has so far coordinated these activities from its facility in Spain.

GFT expects the acquisition to add around EUR 23 million to revenues and EUR 3.50 million to EBITDA in the second half of 2013. As a result, the GFT Group's projected revenues for financial year 2013 will rise to around EUR 260 million. The acquisition also raises the GFT Group's headcount to almost 2,000 persons. "The takeover of Sempla gives a further boost to our encouraging business development and represents a major milestone in the Group's growth strategy," concludes Dietz.