Allgeier SE Accelerates Its Strategic Focus on Digital Transformation Solutions
Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) has announced the divestiture of its IT‑Managed Services arm, Allgeier IT Services GmbH, to private‑equity investor Synova. The transaction, which is slated to close in the coming weeks, will free up capital and managerial bandwidth for the group to deepen its core offering in software solutions that digitise business and public‑administration processes.
Transaction Highlights
| Item | Details |
|---|---|
| Seller | Allgeier Public SE (subsidiary of Allgeier SE) |
| Buyer | Synova, a private‑equity firm focused on digital‑technology investments |
| Business sold | Allgeier IT Services GmbH (IT‑Managed Services) |
| Revenue of sold unit | ~€50 million per annum |
| Valuation | Upper double‑digit million‑euro range (exact figure undisclosed) |
| Strategic rationale | Complements the 2024 sale of the personnel‑services business; reinforces concentration on high‑growth software solutions |
The sale follows the group’s earlier divestiture of its personnel‑services line in 2024, signaling a deliberate shift from ancillary services to high‑margin, scalable software offerings. By shedding the managed‑services portfolio, Allgeier can reallocate resources—both capital and talent—toward the development of its flagship digital‑process solutions.
Market Implications
Allgeier’s share price, which closed at €16.55 on 21 Oct 2025, sits comfortably below its 52‑week low of €12.95 and near the trough of the current cycle. With a market cap of approximately €191 million and a price‑to‑earnings ratio of 40.9, the stock trades at a premium that reflects expectations of future growth in the digital‑transformation segment.
The divestiture is likely to:
- Improve earnings quality – The IT‑Managed Services business, while profitable, operates in a commodified service market with lower margins. Its removal is expected to lift average operating margins across the group.
- Enhance capital efficiency – The proceeds, projected to be in the upper double‑digit million‑euro range, will provide a cushion for R&D investment and potential acquisitions in complementary software domains.
- Signal strategic intent – Investors will interpret the move as a commitment to becoming a niche provider of integrated digital‑process solutions, rather than a diversified service conglomerate.
Forward‑Looking Outlook
Allgeier’s core business revolves around three pillars—IT Solutions, IT Services, and recruitment—spanning the entire IT lifecycle. The company’s emphasis on software solutions for the digitalisation of business and public‑administration processes positions it favourably against regulatory pushes for digital governance and the ongoing transformation of public‑sector IT infrastructures.
Given the current market trajectory:
- Revenue growth is expected to accelerate, as the group targets mid‑market customers that require end‑to‑end digital‑process platforms.
- Margin expansion should materialise as the cost‑intensive managed‑services layer is removed and the focus shifts to higher‑margin, recurring‑revenue software subscriptions.
- Capital deployment will likely include targeted acquisitions of niche technology vendors and bolstering of the research and development pipeline to keep pace with rapid technological change.
In sum, Allgeier SE’s sale of its IT‑Managed Services business is a decisive step toward a leaner, higher‑margin structure that prioritises digital‑transformation software. The forthcoming weeks will reveal the exact terms, but the strategic trajectory is unmistakable: a transition from a broad‑based service provider to a focused, technology‑centric growth engine.
