King & Wood Mallesons has advised Fiducia & GAD IT AG (Fiducia & GAD) on the sale of shares in ELAXY Group to CREALOGIX Group. CREALOGIX acquired shares of two subsidiaries of Fiducia & GAD as part of a long-term cooperation.

From 1 January 2016, 80 percent of shares in ELAXY Financial Software and Solutions and 20 percent of shares in ELAXY Business Solutions and Services, will go over to CREALOGIX. Aside from this share transfer, the parties agreed on a long-term cooperation.

Fiducia & GAD is an IT service provider for the German Volks- and Raiffeisenbanken. With its administrative headquarters in Karlsruhe and Münster as well as subsidiaries in Munich, Frankfurt and Berlin, it currently employs approximately 5,600 individuals.

ELAXY is a leading provider of software & PC centre services offering tailor-made solutions to banks, insurance companies and financial institutions. The ELAXY Group comprises three companies, namely ELAXY Financial Software & Solutions with interactive digital consultation solutions, ELAXY Business Solution & Services with a focus on banking, brokerage and PC centre services, and ELAXY Format as a provider of commission accounting systems. Located in Coburg, Puchheim, Jever and Frankfurt/Oder the group employs approximately 240 individuals.

The King & Wood Mallesons team was led by partner Michael Cziesla. Further practice areas such as IP/IT, tax, competition and employment, provided additional expertise.
 
Advisors Fiducia & GAD IT AG
King & Wood Mallesons, Germany

Corporate/M&A
Dr. Michael Cziesla (partner, lead), Christian Ostermöller (associate, both Frankfurt)

IP/IT
Manuela Finger (partner), Timo Conraths (associate, both Frankfurt)

Tax
Markus Hill (partner, Frankfurt)

Competition
Tilman Siebert (partner), Helge Aulmann (associate, both Munich)

Employment
Dr. Barbara Geck (partner), Franziska Fiedler (associate, both Frankfurt)