TIMETOACT GROUP acquires STAGIL
With acquiring STAGIL, TIMETOACT GROUP consolidate its position as one of the leading Atlassian partners globally.
Cologne/Wiesbaden, 6 July 2023 –TIMETOACT GROUP, a leading provider of IT services for medium-sized companies, corporations and public institutions, is acquiring STAGIL, one of Germany's largest Atlassian Platinum and Enterprise Solution Partners. The acquisition represents a further expansion of TIMETOACT GROUP’s consulting portfolio, managed under the catworkx brand, into a leading partner in German-speaking countries. Björn Frauen, STAGIL’s CEO and Co-Founder, will become Co-Managing Director of catworkx Germany and a shareholder in TIMETOACT GROUP. The parties agreed not to disclose the details of the transaction.
TIMETOACT GROUP, headquartered in Cologne, comprises specialised IT companies across 17 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore and the USA. With almost 1,100 employees and a comprehensive portfolio of software and consulting services, the digitalisation expert primarily concentrates on medium-sized and large companies from the industrial, finance and service sectors, as well as public institutions. catworkx, which TIMETOACT GROUP acquired in May 2022, is one of the largest Atlassian Platinum and Enterprise Solution partners in German-speaking Europe, with locations in Germany, Austria and Switzerland. All Atlassian specialisations – "Agile at Scale", "Cloud" and "ITSM" – are held by catworkx.
As a certified Atlassian Platinum Enterprise Solution Partner, STAGIL supports companies with the introduction and use of Atlassian products such as Jira, Confluence and Bitbucket. Specialising in agile product development, service management, project management and process digitisation, STAGIL has a strong track record of working with companies from a diverse range of sectors, including automotive, automation, finance, insurance, production, e-commerce, IT service & operations and software development. Its portfolio ranges from requirements analysis for concept and design to configuration, implementation, integration and custom app development, as well as training and daily support.
With around 170 accredited and certified employees and a seat on the Atlassian Partner Advisory Council, this acquisition will see catworkx consolidate its position as one of the leading Atlassian partners globally. The transaction is TIMETOACT GROUP’s sixth acquisition since funds advised by Equistone Partners Europe acquired a majority stake in the business in June 2021.
By joining forces with catworkx and brainbits, we are creating one of the leading Atlassian partners in German-speaking Europe. Partnering with TIMETOACT GROUP, we can now offer our customers even better integration into other tool suites, such as SAP, Microsoft and Google, while also increasing our exposure to the English-speaking market. We look forward to this collaboration and embarking on exciting new Atlassian projects together.Björn FrauenCo-Managing DirectorSTAGIL
Via this merger with STAGIL, catworkx strengthens its status as one of the DACH Atlassian champions. With outstanding expertise, a strong presence in Germany and the USA, and custom app development tailored to the Atlassian marketplace, STAGIL is the ideal addition to our portfolio. The same goes for Björn Frauen, catworkx’s new Co-Managing Director. Together with Michael Lüer, he will lead the company's development going forward. We are also pleased to welcome on board STAGIL‘s Ukrainian development team, who are doing outstanding work amid a hugely challenging backdrop.Frank FuchsCo-Managing DirectorTIMETOACT GROUP
STAGIL’s expertise in agile product development will prove critical in supporting and accel-erating our customers’ switch to the cloud. STAGIL is a leader in the Atlassian market when it comes to cloud transformation and is a superb addition to the catworkx team. Additionally, we are excited to partner with STAGIL's US subsidiary to expand our group's presence in North America.Felix BinsackCo-Managing DirectorTIMETOACT GROUP
This merger enables us to continue the build-out of our highly dynamic team. The employees and the management of STAGIL have consistently demonstrated an ability to implement ambitious growth plans and modern working methods within a short space of time. This expertise will prove invaluable as we continue to carve out a leading role in the Atlassian market.Michael LüerManaging Directorcatworkx
Frank Fuchs and Christian Koch are responsible for the transaction on the part of TIMETOACT GROUP. TIMETOACT GROUP was advised on the transaction by AC CHRISTES & PARTNER (financial & tax), de Angelis Rechtsanwälte (legal), wdp (commercial), P+P Pöllath & Partners (legal), Pinsent Masons (legal, antitrust law) and Goodwin Procter (legal, debt). The STAGIL shareholders were advised on the transaction by Hampleton Partners (M&A) and GvW Graf von Westphalen (legal).