Walldorf/Schwäbisch Gmünd, February 16, 2000
Neuer Markt-listed company realTech AG, Walldorf, which specializes in technical SAP R/3 consulting, e-commerce and intranet projects as well as software solutions, is to acquire a stake in Grau Software GmbH, Schwäbisch Gmünd. Further investors in the company are SAP AG and Julius Bär AG. A letter of intent was signed last week; no financial details were disclosed. Grau Software GmbH specializes in the development and marketing of hardware and software systems for data storage and archiving. Founded in 1990, the company -- which is soon to convert to a stock corporation (AG) -- posted revenues of about DM 5 million in 1999. In the current year, the company is expecting this figure to rise to around DM 10 million. With its new product Infinistore VirtualDisk, Grau has a client list that includes major companies such as Audi, Bosch, and Siemens. Parallel to that the Swabian company offers an Internet-based data storage and archive solution, which is marketed under the name WebDataCenter and is targeted towards both mid-size and large companies.
Daniele Di Croce, CFO of realTech AG, stressed that the plan to take a stake in Grau Software GmbH marks a major step forward in moves to enter the internet business and to expand internet-based computing center services. The deal is further evidence of the company’s continuing commitment to a policy of strategic acquisitions and cooperation agreements.
