Cologne/Ravensburg, Germany, 18 January 2022 – TIMETOACT GROUP, a leading provider of IT services for medium-sized businesses, large corporations and public institutions in Germany, Austria and Switzerland backed by Equistone Partners Europe, is acquiring software transformation expert PKS Software GmbH, based in Ravensburg. The acquisition is consistent with TIMETOACT GROUP’s specialisation in offering top-quality consultancy and IT services and continues its successful, 15-year buy-and-build story. Both companies’ long-term partnership will now be continued and expanded under the umbrella of TIMETOACT GROUP. PKS’s existing directors Heidi Schmidt and Roland Zurawka will continue to lead the company, while Heidi Schmidt is also reinvesting as a shareholder in TIMETOACT GROUP. The parties agreed not to disclose the details of the transaction.
TIMETOACT GROUP acquires IT modernization expert PKS Software GmbH
We continue to grow!
We are very pleased to welcome IT modernization expert PKS with its 60 employees as a strong partner in TIMETOACT GROUP. After years of successful cooperation, we are now taking the next step.
TIMETOACT GROUP, headquartered in Cologne, currently comprises eight specialised company brands at 16 locations across Germany, Austria and Switzerland: ARS, CLOUDPILOTS, edcom, IPG, novaCapta, synaigy, TIMETOACT and X-INTEGRATE. With around 700 employees, and a comprehensive portfolio of software and consulting services, the digitisation expert primarily concentrates on medium-sized and large companies from industry, finance and the service sector as well as public institutions. The recent conclusion of this acquisition means that PKS, which is based near Lake Constance, will now also strengthen the fast-growing group.
Joining TIMETOACT GROUP represents a unique opportunity for us and our team: We can also continue to focus on our core competencies, the continued development of mature systems and their transformation into the future while simultaneously rounding off the portfolio of TIMETOACT GROUP. In this way, our customers can benefit from a broader, end-to-end support profile along the entire software lifecycleHeidi SchmidtCo-Director PKS
I am delighted that we are able to round off TIMETOACT GROUP with our strong and competent team, create new and innovative solutions for our customers and work together to further develop our market position in the field of core systems maintenance as well as legacy transformationRoland ZurawkaCo-DirectorPKS
Established in 1991, PKS specialises in the customer-specific development of tailored, business-critical software. Its focus is on optimising mature software landscapes so that companies can collaborate with their customers and suppliers in a way that is efficient, up-to-date and error-free. To this end, PKS’s experts use field-tested methods to prepare comprehensive analyses of existing systems, design appropriate transformation concepts and implement them systematically and professionally using innovative technologies. Transformation expert PKS not only looks after ongoing software maintenance and support, thereby enabling a smooth generational change, but also provides advice and support for the introduction of modern development environments and processes (DevOps) and for the initial and further training of developer teams. PKS generated sales of approximately EUR 10 million in 2021 with around 60 employees.
The PKS acquisition enhances our portfolio by adding an essential digital transformation component for our customers. We were impressed not only by the company’s outstanding expertise in the analysis, modernisation and migration of complex software, but also in particular by the entrepreneurial management team, the corresponding corporate culture and the shared perspective in respect of future growthFrank FuchsCo-Director TIMETOACT GROUP
PKS’s existing directors, Heidi Schmidt and Roland Zurawka, will continue to manage the company. Furthermore, Heidi Schmidt has reinvested in TIMETOACT GROUP, thereby enlarging the group of management shareholders. Existing shareholders of TIMETOACT GROUP, including funds advised by Equistone Partners Europe, are supporting the transaction with fresh capital. Agreement was quickly reached during the bilateral sale process, with synergies and growth potential identified. PKS will develop its planned new office branch in Northern Germany together with TIMETOACT GROUP and will also offer its transformation expertise to the customers of TIMETOACT GROUP. PKS can now also offer its customers the entire service portfolio of TIMETOACT GROUP.
Particularly with banks, logistics providers and insurance companies, many of the applications that map the primary processes and the core business are getting long in the tooth and urgently need to be modernised and future-proofed. Thanks to its extensive experience, methods and tools, PKS is not just a service provider but a trusted adviser for the modernisation of its customers’ IT systems.Felix BinsackCo-Director TIMETOACT GROUP
Frank Fuchs and Christian Koch are responsible for the transaction on the part of TIMETOACT. TIMETOACT was advised during this transaction by AC CHRISTES & PARTNER (Financial & Tax) and law firm de Angelis Rechtsanwälte (Legal). The PKS shareholders were advised during the transaction by tax consultants Steuerkanzlei Serafini (Financial & Tax) and law firm Geißler Rechtsanwälte (Legal).
TIMETOACT GROUP modernises and integrates IT applications for the upper midsize market and company groups in order to boost their agility, efficiency and transparency. For innovative customers TIMETOACT GROUP also designs and implements digital business models and opens up new market opportunities for them. These services include consulting, cloud transformation, data-, software- and systems engineering in the area of employee experience, business applications and customer experience. TIMETOACT GROUP integrates its own competencies with partners and leading manufacturers in order to develop tailored solutions for customers including software selection, consulting and licensing. IT companies ARS, CLOUDPILOTS, edcom, IPG, novaCapta, synaigy, TIMETOACT and X-INTEGRATE belong to TIMETOACT GROUP. Together they employ around 700 people at 16 locations in Germany, Austria and Switzerland.Read more
PKS Software GmbH
PKS comprises a team of experienced software analysts, programming experts and web developers. From its headquarters by Lake Constance and from the Eschborn site near Frankfurt, PKS has been planning innovative, low-risk and future-proof software transformations worldwide since 1991 and successfully implements these with its customers.Read more