Following the successful closing, CREALOGIX now owns a significant shareholding in ELAXY, one of the leading German fintech providers for interactive consulting solutions for banks and financial service providers. The transaction, which was announced at the end of October 2015, was completed within the scope of a long-term cooperation with Fiducia & GAD, the IT service provider of the German Volksbank and Raiffeisenbank groups.
Following the closing on 7 January 2016, CREALOGIX has acquired 80 per cent of ELAXY Financial Software & Solutions and 20 per cent of ELAXY Business Solution & Services, in the form of an initial stake. The two companies each generate around EUR 10 million in sales and each employ around 100 staff.
Fiducia & GAD IT AG (Karlsruhe/Münster) still hold a substantial number of shares in ELAXY, which will help to ensure a seamless transition as well as the strategic positioning within the financial cooperative.
With its involvement in ELAXY, Germany will become a second home market for CREALOGIX. For the internationally expanding fintech company, the transaction offers excellent access to a much larger range of clients and hence represents a promising basis for further growth. This is an important milestone for CREALOGIX on the way to becoming a European provider of digital banking and digital advisory software solutions.