International expansion of Atlassian offering: EverIT becomes part of catworkx and TIMETOACT GROUP

Cologne/Budapest, 4 November 2024 – catworkx (part of TIMETOACT GROUP), a leading partner for Enterprise integration based on the Atlassian platform, is acquiring EverIT, a specialized Hungarian based Atlassian Partner. Together, the companies will build on their long-standing relationship and expand catworkx’s leading market position into Central Eastern Europe and strengthen catworkx’s global offering. The parties agreed not to disclose the details of the transaction.

TIMETOACT GROUP, headquartered in Cologne, comprises specialized IT companies across 28 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore, Spain, Ukraine and the USA. With over 1,300 employees and a comprehensive portfolio of software and consulting services, the digitization expert primarily concentrates on enterprise and Fortune 1,000 companies, as well as public institutions.

catworkx, part of TIMETOACT GROUP, is a leading partner for Enterprise Integration on the Atlassian platform, Atlassian Marketplace app vendor, and training provider across the EMEA region. Following its integration into TIMETOACT GROUP in May 2022, catworkx has further strengthened its capabilities through mergers with Atlassian partners brainbits, STAGIL, and Zuara. Today, the catworkx group boasts over 200 highly qualified employees in six countries - Germany, Austria, Switzerland, Spain, Ukraine, and the USA. Its expert team provides tailored, industry-specific solutions, leveraging synergies within TIMETOACT GROUP to offer customers innovative, scalable, and standards-driven services.

EverIT, founded in 2008, is a Budapest based specialized Atlassian Partner focused on providing high-quality software solutions and IT services within the Atlassian ecosystem. The company leverages innovative technologies to address clients' specific business needs, with a strong emphasis on simplicity and thorough business analysis. EverIT is dedicated to helping organizations maximize the potential of Atlassian products through tailored solutions, working in an agile and collaborative manner to ensure seamless alignment with client goals.

catworkx and EverIT have a long-standing and successful partnership carrying out multiple joint projects over time. This merger represents the next strategic step in this partnership providing the ideal expansion into Central Eastern Europe for catworkx and access to the global Atlassian ecosystem for EverIT. EverIT will become catworkx Hungary and support global projects as well as the expansion of catworkx in the CEE region.

The takeover of EverIT is the ninth successful acquisition for TIMETOACT GROUP since funds advised by Equistone Partners Europe acquired a majority stake in the business in June 2021.

Ferenc Molnár, Founder of EverIT, adds: “We have enjoyed collaborating with the catworkx team and recognize them as a forward-thinking, 21st-century company. With their global reach and innovative approach, catworkx is set to become a leading global Atlassian provider. The EverIT team is excited to contribute to this journey. With the resources and network of both catworkx and TIMETOACT GROUP, we will not only create value for our customers more efficiently and on a larger scale, but also offer excellent career opportunities for our team members.”

The merger remains subject to approval by the relevant competition authorities.

Frank Fuchs, Christian Koch, and Christian Reifenhäuser are responsible for the transaction on the part of TIMETOACT GROUP. TIMETOACT GROUP was advised on the transaction by bnt attorney in CEE (Legal), Impact Advisory (Financial & Tax), and McDermott Will & Emery Rechtsanwälte Steuerberater (Legal, Antitrust Law). The EverIT shareholders were advised on the transaction by Dr. Schadt Kata (Legal).