Allgeier to spin off Nagarro.

Allgeier, a consultancy and service company in the German-speaking world, agreed to spin off Nagarro, a global firm in digital engineering and technology solutions. Financial terms were not disclosed. “The Nagarro group has outgrown Allgeier in recent years through its sustained organic growth and various acquisitions as an independent global tech services player. For Nagarro, it is important to be able to gain more attention and visibility with an independent listing and branding in the market, which we believe will also enable more attractive capital market valuations. With its own equity story, Nagarro will be positioned directly in the peer group of global software development and digital transformation companies. But also for the remaining Allgeier, the spin-off of Nagarro is an opportunity for a positioning as one of the few large providers in the German-speaking countries that offer their clients a comprehensive software development and IT services portfolio to support the digital transformation of their businesses. Allgeier will focus on its buy & build strategy in order to continue to grow above the market average through value-creating acquisitions in the future,” Carl Georg Dürschmidt, Allgeier CEO.