FORUM Family Office acquires 60% of efsta IT Services

Munich, June 28, 2021

Transaction Announcement

FORUM Family Office acquires 60% of efsta IT Services

FORUM Family Office (“FORUM”) has acquired 60% of the shares in efsta IT Services GmbH (“efsta”), based in Steyr/Austria, through its sector holding company FORUM Software Mittelstandsholding SE. With this partnership, the founders of efsta want to accelerate the international development of the company. Efsta generates sales of approximately € 3.2 million with 17 employees, of which approximately € 2.6 million are SaaS revenues (“ARR”).

Efsta offers an internationally applicable cloud-based solution for the so-called “fiscalization of cash registers” according to the highest security standards. The core of efsta's offering is a universal solution for the process steps of digital signature, audit security, data protection, interface for the tax authorities (“DsFinVK”) and a 10-year data backup. With this offer for “Compliance as a Service (“CaaS”)”, efsta is an innovator and market leader in Austria and Germany.

FORUM's continuation concept envisages the continuation of the company strategy in all essential points, above all the retention of personnel and the Steyr location. With the planned establishment of an international sales company in Munich, business outside of Austria and Germany is to be developed at an accelerated pace.

In addition to the 9 existing country solutions, further country solutions are to be developed in order to provide pan-European suppliers and operators of POS systems with a complete solution. In the medium term, efsta would like to play a leading role in the emerging market of digital fiscalization in Europe with a high level of technological expertise and a strong sales presence.

Some years ago, the founders appointed Jakob Marberger and Ernst Bewersdorff as managing directors, who largely manage and will continue to manage efsta independently. Jörg Veigel will continue to head the development. This ensures continuity and innovation leadership for efsta's customers and partners in the future.

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The founders comment on this partnership as follows:

"In our search for a partner to support our rapid growth, we decided on FORUM Family Office. The partnership and the transfer of international marketing and sales responsibilities to FORUM gives us the opportunity to focus more on our core competencies: continuous development at the highest security level and expansion of technological customer and partner support. In addition, this step ensures the continuity and reliability of efsta, as our visions and proven corporate philosophy are continued by FORUM."

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FORUM Family Office is a long-term investor in medium-sized companies. The focus is on "subscription businesses" with recurring revenues. With a turnover of approx. EUR 50 million and 400 employees, software is a key sector for FORUM and is to be further expanded. In addition to 6 holdings in Germany, efsta is the 1st holding in Austria - we are particularly pleased about this! As a long-term owner, FORUM contributes its expertise primarily in the areas of corporate development, sales and personnel development. FORUM Family Office is looking for majority shareholdings with a turnover of EUR 2 million to EUR 50 million.

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