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Sycor is well equipped for the challenges of the future

September 7, 2018

The Sycor Group has set its sights on continued growth and the outlook for a successful financial year is promising. Several significant customer projects and new customer acquisitions are currently in the works.

This puts Sycor in a great position for the future and the company is looking ahead with optimism to the planned involvement of an investor. Last year, Prof. Hans Georg Näder, the President and CEO of the company’s owning entity, Ottobock Holding, announced that he was seeking an investment partner that would be a good fit for Sycor’s culture and values.

There is a great deal of interest in Sycor in the market. Harry Wertz is overseeing the sale as the CEO of Ottobock Holding. The next step will now consist of the submission of indicative offers by the interested parties. Suitable potential investors will then be selected on a preliminary basis.

Prompted by Professor Näder’s statement that he wants to find “the best home port” for the company, a group of Sycor employees decided to submit an offer themselves. As part of a private initiative, these employees have developed a concept for the purchase of the company by its workforce. According to their concept, Sycor would become an “employee-owned company” (EOC). 

The employees presented their idea to Professor Näder, as they are also invited to submit an offer.

In light of this, Dr. Marko Weinrich has resigned from his role as CEO of Sycor GmbH and has handed over the related responsibilities to ensure that he can support the participatory process without a potential conflict of interest. Both parties have agreed to maintain confidentiality with respect to the details of the negotiations. Rüdiger Krumes will continue to serve as CEO with responsibility for the operational business. Financial specialist Jochen Schwiersch has been appointed CEO. He will be responsible for the commercial management and organization of the company.

The Sycor Group is a rapidly growing digitalization service provider with more than 750 employees around the world. The company is headquartered in Göttingen, Germany, with further locations in Germany, Austria, North America and Asia. In the past financial year, Sycor increased its number of employees by 100 thanks to organic growth. With over 750 employees, the company’s annual sales grew by almost 20 percent to EUR 85.1 million (approx. 98.5 million USD as of date of article).

This positive result can be attributed in part to the favorable overall economic situation, as well as to the high demand among mid-sized German companies for the solutions in Sycor’s portfolio. Over the past few months, Sycor has systematically expanded its selection of solutions and services for the digitalization of business processes. This enables the company to act as a full-service provider in the SAP and Microsoft areas, supporting its customers along their entire value chains.

Sycor has also further expanded its position in the IT market. According to a recent special analysis by an independent market research firm, Sycor is once again among the top 20 German midsize companies in the IT consulting market in 2018 (Lünendonk & Hossenfelder).

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