Fiducia & GAD IT AG has sold ELAXY Format GmbH to Consileon Business Consult. GmbH

Fiducia & GAD IT AG has sold ELAXY Format GmbH to Consileon Business Consultancy GmbH for an undisclosed consideration.

ELAXY Format was part of ELAXY group, a subsidiary of Fiducia & GAD, until the end of 2015. For nearly 30 years, the group has been one of the most renowned providers of IT solutions for banks, insurance companies and other financial services providers. ELAXY Format develops software for commission settlement and sales management, including the system FiANTEC, which was developed in close cooperation with brokers, banks, insurance companies and real estate agents.

Consileon Business Consultancy GmbH consists of medium-sized, owner-operated management and IT consultancies from five European countries. The group provide strategy consulting including organizational and technical implementation from a single source. Its clients include public institutions as well as regional companies and global corporations, especially from the automotive and financial services industry.

Fiducia & GAD IT AG is the IT service provider of a cooperative financial services network. The company's customer base includes all 1,100 Volksbanken und Raiffeisenbanken in Germany, companies of the corporate financial services network as well as numerous private banks and other industries companies such as ADAC.

Oaklins' team in Germany exclusively advised the seller in this transaction.