REPLY Extends Its Presence in Banks and Insurance in Germany With the Acquisition of FINCON
REPLY [EXM, STAR: REY] announces today that has signed an agreement to acquire 100% of FINCON Unternehmensberatung GmbH (www.fincon.eu) - a German consulting company leader in digital transformation projects for the banking and the insurance industry.
FINCON, headquartered in Hamburg, is a pure consulting company specialized on the core processes and systems for the financial services industry such as, mobile banking, payments, core banking, internal control system and regulatory compliance, BIPRO and insurance systems. Among the customers of FINCON there are the main German banking and insurance institutions and many of the German Sparkasse.
The investment in FINCON is part of Reply's international growth strategy, particularly in Germany, where Reply is already a leading player in consulting, system integration and digital services.
The managing directors of FINCON with the role of "Partner Reply" will focus on further developing and expanding the activities of FINCON within the Reply Group in Germany.
"FINCON - said Mario Rizzante, President of Reply - mixes a great expertise on banking and insurance processes with a constant attention to technological innovation. With FINCON our goal is to expand Reply footprint nto the German banking and insurance sector with a focus on digital transformation projects an area where all the main industry players are concentrating the majority of their investments."
Frank Dünnleder, CEO of FINCON commented: "We are very excited to be joining Reply's network of companies as the leading consulting company for the financial services industry in Germany. The strong interest in people, culture and customer focus that characterize Reply fits perfectly with our corporate culture. As part of the Reply network, we benefit from the innovative power and creativity of the entire group, which enables us to support our customers even better and more comprehensive with cutting edge solutions and services."
The completion of the transaction is subject to fulfilment of certain conditions, such as the clearance by the German Federal Cartel Office. Completion is expected to occur towards the end of June 2022.
This press release is a translation, the Italian version will prevail.