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Acquisition of targens completed
GFT formally completed the acquisition of targens GmbH on 3 April and adjusted the management structure. The transaction was announced in February 2023.
Stuttgart, 18 April - GFT formally completed the acquisition of targens GmbH on 3 April and adjusted the management structure. The transaction was announced in February 2023.
With targens, GFT not only gains a renowned client base, but also their expertise in banking, compliance and digital innovation. The compliance products focus on combating financial crime with the SMARAGD Compliance Suite at their core. The consultants are experts in regulation, bank control and data architectures in financial service providers. Digital innovation rounds off the targens portfolio with products and solutions related to AI and DLT. This strengthens GFT's position as a leading provider of digital solutions for the financial industry. To realise the full potential of the acquisition as quickly as possible, the targens brand is to be merged into GFT by the end of the year at the latest.
In the course of the integration, the management of targens has been strengthened. Jens-Thorsten Rauer, Group Chief Executive Central and Western Europe of GFT, and Volker Fischer, General Manager of GFT Germany, have been appointed to the management of targens.
Susanne Hofrichter and Peter Kronenberg from targens continue to be responsible for the product area around the SMARAGD Compliance Suite. Together with Max Baritz, they now report to Jens-Thorsten Rauer. Christian Otto, in turn, will expand the management of GFT Germany as Head of Consulting Business. He will be responsible for consulting services in specialist and IT consulting in bank regulation, as a new growth area of GFT Germany.
Targens CEO Lars A. Ludwig will leave the company at his own request at the end of May 2023. "As CEO, Lars Ludwig has decisively developed targens strategically, in terms of personnel and economically and made it into the impressive company it is today. We greatly appreciate the constructive cooperation with him and are pleased that he will continue to accompany us with his experience in the integration until 31 May 2023," says Volker Fischer.
"Compliance and regulatory issues are becoming increasingly important for companies in all industries worldwide," says Jens-Thorsten Rauer. "The competence of targens combined with the global positioning of GFT will result in great opportunities for GFT, both for our new colleagues and for our clients."
“Compliance and regulatory issues are becoming increasingly important for companies in all industries worldwide. The competence of targens combined with the global positioning of GFT will result in great opportunities for GFT, both for our new colleagues and for our clients.”
