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Software AG and GFT to cooperate in expanding their market position in Brazil and the United States

(PresseBox) (Hannover, ) .
- GFT becomes Software AG s product implementation partner in Brazil
- Software AG to GFT s development center in Brazil to support customers in the financial services industry in North America
- During the next one to two years, GFT will add 50 to 100 employees to its development center to handle Software AG projects

At CeBIT in Hannover, Software AG and GFT introduced their plans to collaborate in market development in Brazil and the expansion of business in the United States. The two globally operating companies headquartered in Germany, agreed to join forces and use their respective skills to successfully open new markets together. Both companies intend to strengthen their US business through a nearshore development model for customers from the financial services industry.

"This alliance is a pilot project for both companies, which we plan to extend to other markets and industries. It is the beginning of a partnership that can be a model for how members of the European software and service industry can work together globally to remain competitive a global basis" says Karl-Heinz Streibich, CEO of Software AG.

Software AG will focus on its product portfolio delivering business infrastructure software. GFT will be responsible for project implementation. The advantages to both companies lie in the accelerated market development by combining existing skills and products. On the market side, business customers benefit from the complementary expertise of two companies who are world leaders in their respective areas. In the future, Software AG will use GFT s offshore development center in Brazil for customers from the financial services industry in North America. This move provides Software AG s North American customers with access to a cost-effective nearshore development center. During the next one to two years, GFT s development center is expected to add 50 to 100 employees specifically for Software AG projects.

As an internationally leading supplier of IT solutions to the financial services industry, GFT has been represented in Brazil for four years, maintaining a software development center there, currently with 70 employees. Recently GFT successfully concluded a large-scale project, utilizing up to 500 IT experts, for the Brazilian private bank Bradesco. GFT expects that this cooperation will give it access to a broader customer base in Brazil, as well as accelerating development of the North American market. "Our partnership with Software AG offers us excellent growth opportunities. By bundling the skills of two international companies with German roots, we have created an optimal basis to utilize the full synergy potential and to jointly benefit from the attractive market opportunities in Brazil and the United States," explains Ulrich Dietz, CEO of GFT Technologies AG.

As of the beginning of 2008, Software AG has been represented directly in Brazil for the first time. The company ended its collaboration with its previous IT service provider, and chose to enter into a partnership with GFT instead of building its own IT service capacities. Using the existing GFT IT-services infrastructure gives Software AG faster access to Latin America s largest IT market and strengthens its position there with an IT service company that has extensive local experience. Brazil is strategically important for Software AG: The company expects revenues of US$ 20 to 30 million in 2008.

The GFT Group is an international leading IT service provider. With its business divisions representing Services, Resourcing and Software, the company has a unique service portfolio. In the Services division, GFT focuses on the financial services and logistics sectors where it designs and realises IT solutions. The company s combination of solid experience in project management and comprehensive expertise in the latest technologies makes GFT a strategic IT partner for renowned companies worldwide. The Resourcing segment supplies IT specialists to companies in a variety of sectors. GFT also offers a third-party management service, where it completely manages a company s IT service providers. The GFT Solutions GmbH covers the Software business division and sets new standards in the fields of business process optimisation, document management and digital archiving. In 2006, GFT realised revenue of EUR 174 million. Headquartered in Germany, the GFT Group was established in 1987 and employs more than 1,100 professionals in nine countries. GFT stock (WKN 580 060) is listed in the Prime Standard of the Frankfurt Stock Exchange and is a member of the GEX (German Entrepreneurial Index).