Zurich/Frankfurt/Tokyo, August 09, 2004 – A group of private Swiss industry investors has acquired all shares in CSK Software AG previously held by the CSK CORPORATION, Tokyo (TSE, NASDAQ) for an undisclosed amount. CSK Software AG is a vendor of business process automation solutions to the financial services industry based in Frankfurt/Main, Germany. The group intends to further build up the company based on its portfolio of solutions.
The completion of this acquisition marks an important milestone for CSK Software AG, a company that has been in existence since 1979. CSK Software is a software vendor headquartered in Frankfurt with operations in London, Luxemburg, Zurich, and Madrid. The company specialises in solutions for automation and management of business processes. It focusses on areas such as payment inquiry, SWIFT integration, securities trading and settlement, real-time data distribution and fund management within the financial services industry. The company is now fully owned by a group of investors who aim to continue building the company’s future as a provider of specialized high value solutions for financial services institutions.
The group of investors lead by Dr Thomas Wolfensberger, who in turn is a major shareholder and CEO of Swissrisk AG, a developer and vendor of Wealth Management Solutions for Private and Retail Banking, sees a large potential for strong growth of the newly acquired business in the medium and long term. "In light of an ever increasing need of financial services organizations to cope with business process automation challenges within highly heterogeneous environments we see a bright future for CSK Software", explains Thomas Wolfensberger.
The group of investors plans to position Swissrisk as a strong new partner for CSK Software. Clients will profit from this partnership twofold: Firstly, CSK Software will act as distributor and integration partner of Swissrisk Solutions in all markets currently served by CSK Software. Secondly CSK Software’s world-class connectivity and data distribution solutions will facilitate the integration of Swissrisk Solutions in heterogenous banking environments.
"This cooperation allows both companies to complement their range of solutions for the financial services industry", confirms CSK’s Chief Technology Officer Andreas Wagner, "And therefore we can offer our clients a much more complete portfolio of products, solutions and services in all of Europeans financial centers."
"The main reason for CSK CORPORATION (head quartered in Tokyo) to enter into talks to sell CSK Software AG is that, we have taken the strategic decision to focus our business activities on business process outsourcing (BPO) in Japan and to allocate more resources to such new business domain” confirmed Mr.Teiichi Aruga, representative director of CSK.CORPORATION, the previous parent company of CSK Software. The sale of CSK Software AG takes place within the scope of this strategic realignment of CSK CORPORATION.
Mr Aruga also commented on the future relationship between two companies: "In spite of the sale, we are pleased to announce that CSK CORPORATION will continue actively to sell CSK Software AG's products in the Japanese market as distributor and look forward to a long and mutually beneficial relationship."