TIMETOACT GROUP expands into cloud-based SAP solutions consulting with the acquisition of WCA Walldorf Consulting and target Software Solution
TIMETOACT GROUP, a leading provider of IT services for medium-sized businesses, large corporations and public institutions, is acquiring WCA Walldorf Consulting AG and its sister company target Software Solution GmbH, proven specialists in the implementation of cloud-based SAP solutions. The acquisition is aimed at expanding TIMETOACT GROUP's portfolio of high-quality consulting services for its customers' cloud transformation. The two companies will continue to be led by their existing board members and managing directors. WCA Walldorf Consulting's former board members, Hanno Hofmann and Simon Flick, will become shareholders in TIMETOACT GROUP. The parties agreed not to disclose the details of the transaction.
TIMETOACT GROUP, headquartered in Cologne, comprises nine specialised IT companies in 16 cities across Germany, Austria and Switzerland: ARS, catworkx, CLOUDPILOTS, IPG, novaCapta, PKS, synaigy, TIMETOACT and X-INTEGRATE. With almost 1,000 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.
WCA Walldorf Consulting is an international consulting firm for SAP cloud solutions with offices in Germany, Latvia, the USA, Singapore and Malaysia. By combining process consulting, multi-award-winning methodological expertise and technical solution capabilities, it has become one of the leading SAP S/4HANA public cloud consultants in Germany. WCA also has in-depth expertise in SAP lease administration in line with International Financial Reporting Standards (IFRS). Almost 100 employees worldwide use SAP to digitalise the processes and applications of customers from across the high-tech, medical technology, financial and services sectors.
target Software Solution is the world's only software provider for idea and innovation management using SAP technology. For over 25 years, it has encouraged the introduction of diverse and innovative ideas and aims to provide tailor-made solutions for every company, regardless of size or sector. The software, which has been SAP-certified several times, is embedded in SAP HCM and SAP SuccessFactors without interfaces and integrated into existing HR processes.
WCA Walldorf Consulting's former board members, Hanno Hofmann and Simon Flick, and the managing directors of target Software Solution, Achim Noe and Robin Müller-Cajar, will continue to lead the two companies, integrating them into TIMETOACT GROUP. Hanno Hofmann and Simon Flick will become shareholders in TIMETOACT GROUP. Agreement was quickly reached during the bilateral sale process, with synergies and growth potential identified.
The development of the WCA Walldorf Consulting business in Austria and Switzerland, the integration of its offshore teams within TIMETOACT GROUP and the establishment of the group's market presence in the US have all been identified as key priorities for the business. The acquisition of WCA Walldorf Consulting and target Software Solution is TIMETOACT GROUP's fourth acquisition since funds advised by Equistone Partners Europe acquired a majority stake in the business in June 2021.
“Right from the beginning of our conversations with TIMETOACT Group, the potential of a collaboration was clear, especially with regard to customers and the service portfolio. TIMETOACT Group’s existing services and Walldorf Consulting’s role as its SAP consulting brand will boost our strong growth over the coming years," says Hanno Hofmann, Founder and CEO of WCA Walldorf Consulting.
"Having recently become one of the top three partners for SAP public cloud ERP solutions in Germany, we will now take advantage of this new partnership to further expand our position and establish our multi-award-winning Fit 2 Standard approach in new markets and industries," adds Simon Flick, CEO of WCA Walldorf Consulting.
"The group is the perfect partner to support us in building up our SuccessFactors consulting work and developing the target Idea Management cloud. This will enable us to provide our customers with a full cloud solution even faster," as Robin Müller-Cajar and Achim Noe, Managing Directors of target Software Solution, agree.
"With both acquisitions, we are strengthening our position in a core segment of high-quality IT services. We can now provide our customers with comprehensive and capable support on their journey into the SAP cloud, and will also have the opportunity to market our service portfolio in the US for the first time," says Frank Fuchs, Co-Managing Director of TIMETOACT GROUP.
Felix Binsack, Co-Managing Director of TIMETOACT GROUP, adds: "SAP customers will now benefit from our comprehensive range of digital transformation services. We are also very pleased to welcome Hanno Hofmann and Simon Flick, two successful and impressive entrepreneurs, as shareholders of TIMETOACT GROUP."
Frank Fuchs and Christian Koch are responsible for the transaction on behalf of TIMETOACT GROUP. TIMETOACT GROUP was advised on the transaction by Eight Advisory (Financial & Tax), de Angelis Rechtsanwälte (Legal) and P+P Pöllath & Partners (Legal). The shareholders of WCA Walldorf Consulting and target Software Solution were advised on the transaction by Schlatter Rechtsanwälte (Legal) and the tax consultancy Dr Schlör (Financial & Tax).
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