adesso SE (XTRA:ADN1) signed an agreement to acquire 51% stake in Wepex GmbH on February 16, 2023. WEPEX GmbH?s current managing partners, Arno Radermacher, Frank Thole and Oliver Schlicht, will continue in their roles and work with adesso. WEPEX GmbH will continue to operate from its headquarters in Frankfurt am Main ? in even closer collaboration with the adesso Group, which currently has over 8,300 employees at more than 50 locations around Europe. Ulrich Meyer, head of the banking division at adesso, will also become a member of the WEPEX management board. The 30 securities experts at WEPEX will now join the banking segment of the adesso Group. Wepex GmbH generated revenue of ?5 million in 2022. The transaction is expected to close in the first quarter of 2023. Kay. U. Koppen, Thomas Thiede, Daniel Wolgast and Arian Zafar of Spieker & Jaeger acted as the legal advisor to adesso SE (XTRA:ADN1).

adesso SE (XTRA:ADN1) completed the acquisition of 51% stake in Wepex GmbH for ?2.2 million on April 3, 2023. Under the terms of agreement, the consideration amounts to ?2,160 thousand, including a payment of ?1,785 thousand. adesso must pay an additional amount depending on EBITDA for the years 2023 to 2027. adesso estimates the range of the future payments, which is unrestricted, at ?200 thousand to ?500 thousand. The acquired business operations are assigned to the IT Services segment. A combined call/put option was agreed for the remaining 49% of the shares. adesso is permitted to exercise the call option between 2030 and 2034, whereas the sellers may exercise the put option between 2028 and 2032. In each case, the option price depends on future EBITDA.