FORUM Family Office takes over 60% of efsta IT Services

Munich, 28 June 2021

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FORUM Family Office takes over 60% of efsta IT Services

FORUM Family Office ("FORUM") has acquired 60% of the shares in efsta IT Services GmbH ("efsta"), based in Steyr/Austria, through its industry holding FORUM Software Mittelstandsholding SE. With this partnership, the founders of efsta want to accelerate the international development of the company. With 17 employees, efsta achieves a turnover of approx. € 3.2 million, of which approx. € 2.6 million are SaaS revenues ("ARR").

Efsta offers an internationally applicable cloud-based solution for the so-called "fiscalisation of cash registers" according to the highest security standards. The core of efsta's offer is a universal solution for the process steps digital signature, audit security, data protection, interface for the tax administration ("DsFinVK") and a 10-year data backup. With this offer for "Compliance as a Service ("CaaS"), efsta is an innovator and market leader in Austria and Germany .

FORUM's continuation concept provides for a continuation of the corporate strategy in all essential points, above all the retention of the staff and the Steyr location. The planned establishment of an international sales company in Munich is intended to accelerate the development of business outside Austria and Germany.

In addition to the 9 existing country solutions, further country solutions are to be developed in order to provide pan-European providers and operators of cash registers with an overall solution. In the medium term, efsta wants to play a leading role in the emerging market of digital fiscalisation in Europe with a high level of technological competence and a strong sales presence.

The founders already appointed two managing directors a few years ago, Jakob Marberger and Ernst Bewersdorff , who will manage and continue to manage efsta largely independently. Jörg Veigel will continue to lead the development. This will ensure continuity and innovation leadership for efsta's customers and partners in the future.

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The founders comment on this partnership as follows:

"In our search for a partner to support our rapid growth, we chose FORUM Family Office. The partnership and the handover of the international marketing and sales agendas to FORUM gives us the opportunity to focus more on our core competencies: Further development at the highest security level and expansion of technological customer and partner support. Furthermore, this step ensures the continuity and reliability of efsta, as our visions and proven corporate philosophy will be continued by FORUM."

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FORUM Family Office is a long-term investor in medium-sized companies. The core are"subscription businesses" with recurring revenues. With a turnover of approx. EUR 50 million and 400 employees, software is one of FORUM's focal sectors and is to be further expanded. In addition to 6 investments in Germany, efsta is the first investment in Austria - we are particularly pleased about this! As a long-term owner, FORUM contributes its expertise primarily in the areas of corporate development, sales and human resources development. FORUM Family Office is looking for majority shareholdings with a turnover of EUR 2 million to EUR 50 million.

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