Amadeus FiRe AG (ISIN DE0005093108) today concluded a purchase agreement for 100% of the shares in GFN AG, Heidelberg. GFN is a training provider focussing on the market of subsidised adult education and is primarily specialised in IT functions. In 2020 GFN is expected to achieve sales of around 25 million Euros with a neutral operating result. The purchase price is around 6 million Euros.
The Management Board is convinced that GFN will be able to develop on a sustainable profitable basis, among other things by leveraging the high market-specific system and process competence in the continuing education segment of the Amadeus FiRe Group. Furthermore, the acquisition is a next step in addressing the shortage of qualified personnel in the area of personnel services, especially in IT functions.