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Wincor acquires stake in financial software consultancy

The purchase of a majority stake in Brussels-based Projective is expected to accelerate the expansion of Wincor's software business and associated professional services activities.

March 21, 2016

Wincor Nixdorf AG has announced the expansion of its software-related service business with the purchase of a majority share in the Belgian company Projective, retroactive to Jan. 1.

Projective is headquartered in Brussels and has offices in London and The Hague. Wincor Nixdorf is acquiring 51 percent of the company's shares and expects that it will maintain its independent development processes and current management.

According to a press release, Projective specializes in the management of complex IT-supported change and transformation projects for customers in the financial services sector, and has more than doubled its sales to around 20 million euros ($22.5 million) over the last five years.

Wincor said that the acquisition of the Projective stake is part of its ongoing transformation program, a focus of which is to accelerate the expansion of its software business and associated professional services activities.

"With Projective's expertise and independent consulting approach, Wincor Nixdorf will add yet another building block to the best possible design and implementation of IT solutions for its customers," said Olaf Heyden, a member of the Wincor board of directors and head of the company's software and IT services business. "This applies in particular to tailored omnichannel concepts that help banks and retail companies meet the challenges of digitalization."

"A closer cooperation with Wincor Nixdorf opens up new growth perspectives for Projective," company CEO Stefan Dierckx said in the release. "Through Wincor Nixdorf's very good customer base, we will be able to expand our activities to include financial institutions in other countries."