HCL Technologies (HCL) and Deutsche Apotheker- und Ärztebank eG (apoBank), want to buy the IT consultancy GBS Gesellschaft für Banksysteme from Atruvia AG. Subject to regulatory approvals, the takeover is expected to be completed in January 2022. HCL will hold 51 percent and apoBank 49 percent of the shares in GBS. ApoBank, the largest cooperative bank in Germany, has held 10 percent of the shares in GBS for a long time.
“With this strategic acquisition HCL expands its position in Germany and accelerates the digital transformation “, announced the Indian company. “The existing strengths of HCL combined with the portfolio of GBS will enable HCL to expand in the German financial services sector.” HCL and apoBank want to use GBS ‘knowledge of the cooperative banking sector and regulatory know-how for offers to their customers. “This collaboration is in line with HCL’s investments in a local delivery model supported by a highly qualified German workforce,” explains the company.
“Innovative IT solutions and HCL’s financial services expertise together with GBS ‘knowledge of the cooperative banking sector and local IT and regulatory requirements are a promising combination,” says Johannes Kermer, Head of IT and Operations at apoBank. “HCL is already a reliable IT service partner of apoBank. This step further strengthens our relationship.”
GBS employs around 60 people at the Ratingen and Münster locations. The company was founded in 2010 as a joint venture between what was then GAD eG and apoBank. The employees were recruited from a comprehensive migration project at apoBank. The aim was to permanently bundle and maintain the knowledge gathered in the project and then to offer it outside of the parent company. When it was founded, GBS also took over central services for around 220 apoBank applications – from office applications, the sales portal, through securities trading systems to Pfandbrief management systems.
HCL Technologies currently has eight branches in Germany. The head office is in Eschborn. The company employs more than 1,800 people and, according to its own information, looks after 18 of the DAX 40 companies. It also maintains a “Banking Innovation Center” in Eschborn and wants to set up a “Fintech Laboratory” in Berlin.