X1F is joining forces with ADWEKO
IT Holding X1F acquires a majority share in the internationally operating ADWEKO Group, a leading IT consulting and software provider for the financial services industry headquartered in Walldorf, Germany. Founded in 2008, the company employs over 160 people at its five international locations worldwide. By joining forces with ADWEKO, the X1F Group is expanding its service portfolio for banks and insurance companies.
"With X1F, we are now part of a group that not only strengthens our core competencies, but also enables us to support our customers as a holistic partner in their complex transformation projects in the future," says Cord Bötger, Managing Director of ADWEKO Consulting GmbH.
Lars Ackermann, Spokesman of the Management Board, explains X1F's strategyas follows: "The complementary and independently managed companies realize quickly implementable scaling effects in the network while maintaining flexibility. This enables us to effectively support our customers in their growth as a trusted advisor and with future-proof technologies. To this end, we are successively expanding with partners who share the same cultural values."
The X1f Group focuses on the implementation and operation of business-critical IT systems for corporations and medium-sized companies, especially in financially regulated markets.
The Sancovia Corporate Finance team initiated the transaction and the X1F Group throughout the transaction process as M&A advisor.