Equistone Partners-backed TIMETOACT GROUP to acquire PKS Software.

Equistone Partners-backed TIMETOACT GROUP, a provider of IT services for medium-sized businesses, large corporations and public institutions in Germany, Austria and Switzerland, agreed to acquire PKS Software, a software company in Ravensburg, Germany. Financial terms were not disclosed. "Joining TIMETOACT GROUP represents a unique opportunity for us and our team. We can also continue to focus on our core competencies, the continued development of mature systems and their future transformation, while simultaneously supporting the portfolio of TIMETOACT GROUP. In this way, our customers can benefit from a broader, end-to-end support profile along the entire software lifecycle," Heidi Schmidt, PKS Co-Director.