SAP Fioneer Acquires Majority Stake in Okadis Consulting
- 04.04.2022 11:00 am
- Acquisition built on a successful existing partnership
- Demonstrates SAP Fioneer’s commitment to innovation in financial services
- okadis brings expertise in financial accounting, regulatory reporting and analytical banking within the German financial services industry
SAP Fioneer, the leading global provider of financial services software solutions and platforms, has acquired a majority stake in okadis Consulting GmbH, the consulting company and SAP software house based near Frankfurt, Germany.
The acquisition is built on an already successful and proven partnership and demonstrates SAP Fioneer’s commitment to innovation and developing state-of-the-art software solutions for financial services. Since 2003, okadis has provided SAP consulting, application services, additional products and solutions to customers that run on SAP’s financial software. With this addition to the SAP Fioneer family comes a team of highly skilled employees specialized in SAP Fioneer’s product portfolio.
Dirk Kruse, CEO at SAP Fioneer, said: “This acquisition is highly strategic and sends a positive message to the market that underlines our commitment to constantly innovating and enriching our portfolio of solutions. The okadis team brings deep expertise in the areas of financial accounting, regulatory reporting and analytical banking within the German financial services industry along with longstanding experience of our products. Our goal is to respond to the market’s need for innovation in areas such as Environmental Social and Governance (ESG) reporting, by accelerating the development of new products and solutions.”
Björn Jonas, Managing Director at okadis Consulting, commented: “After founding okadis Consulting more than 20 years ago, this is an exciting strategic step for our customers, employees and the business. Being part of SAP Fioneer, our customers will benefit from deeper market expertise, access to a wider portfolio of products and innovative solutions which we’ll develop with our new colleagues. We look forward to the next chapter of continuing to deliver the first-class service and solutions that our customers expect from us.”
For customers, partners, and employees, there will be no immediate change as the okadis brand and company will remain in place for the time being.
The announcement comes after SAP Fioneer’s acquisition of Hedwell, a software and IT company specialized in insurance, in November 2021.