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Ciber today reported that it has signed a stock purchase agreement to acquire, subject to approval by German antitrust authorities, approximately 67 percent of the net outstanding shares of Novasoft AG, a Heidelberg, Germany, international consultancy specializing in implementation of SAP's (NYSE: SAP) products.
Founded in 1989, Novasoft is a SAP integrator for the retail 
industry, as well as the automotive, pharmaceutical and manufacturing sectors. A SAP Alliance Partner, Novasoft implements all of SAP's ERP products, including mySAP.com products and industry-specific applications.
Novasoft has annualized revenues of approximately $78 million and approximately 500 employees. Revenues are distributed approximately 60 percent in Europe outside of Germany, 33 percent Germany and 7 percent Asia and U.S. Novasoft offices in Europe include Heidelberg, London and Cologne.
"We are very pleased to announce Novasoft's pending combination with Ciber," said Mac Slingerlend, Ciber's President and Chief Executive Officer.
Terje Laugerud, Ciber's European CEO, added, "This transaction significantly rounds out our strategic go-to-market programs for Europe. We now will have approximately 1,300 employees in nine European countries."
Logistically, Novasoft will become a Ciber majority owned indirect subsidiary effective with closing, which is anticipated in September. Subsequent to the closing, Ciber will undertake a compulsory offer to all minority, public-shareholdings when such mailings are approved by German securities authorities.
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