SKYTEC AG has been acquired by Allgeier Holding AG

Allgeier Holding AG has taken over a majority shareholding of SKYTEC AG, headquartered in Oberhaching, via its wholly owned subsidiary, TOPjects AG. Financial details have not been disclosed.

Founded in 1997, SKYTEC AG is a company serving upper mid-market customers and large companies. It offers solutions in the areas of automotive, SCADA, building management, innovation and idea management, and business intelligence.

Allgeier Holding AG is an exchange traded, international IT service company with a current total of 14 operative companies. The rapidly growing group offers full-service solutions which encompass the initial design, the implementation and the operation of IT landscapes. Its subsidiary TOPjects AG offers expertise in the financial services and telecommunications industries.

Oaklins' team in Germany advised Thomas Geyer, SKYTEC's principal shareholder, on various strategic M&A options. In addition to selling to a strategic industry partner, the options of an internationalization strategy and of involving a financing partner were also considered in connection with this transaction.