With the consent of the supervisory board, GFT Technologies AG will today sign an agreement for the purchase of 100 percent of the shares in Asymo AG, one of the leading Swiss IT consultancy companies for the Avaloq core banking solution. Completion of the transaction is expected to take place today. This transaction marks a further step along GFT Technologies AG’s path of international growth.

IT consultancy firm Asymo specialises in services for the implementation and maintenance of the Avaloq total banking system. In 2007 Asymo gained the status of an official associate implementation partner. The service portfolio ranges from software evaluation to process analysis and change management, right through to implementation of core banking solutions.

The takeover of Asymo AG pushes the GFT Group’s annual Swiss sales up to some
EUR 16 million. In future it will have a staff of more than 50 working out of the offices in Zurich and Basle. With an Avaloq competence centre of its own in Switzerland, the GFT Group plans to further expand its core banking systems know-how. Due to investment and integration costs, Asymo will presumably not make any appreciable contribution to profits in 2011. However, thanks to the acquisition of Asymo the GFT Group foresees sustained growth in Switzerland from 2012. The operating margin of the Swiss companies will rise from today’s figure of 6 percent to over 15 percent in 2012; in this context the share of the Swiss companies in the GFT Group’s operating result is set to rise significantly from the current
6 percent to around 16 percent in 2012. The parties have agreed not to disclose the purchase price.


GFT Technologies AG

Executive Board