The merger of SYCOR GmbH with the consulting subsidiary of Allgeier SE, planned since November 2018, will no longer take place. The merger will not take place due to the converging views on the strategic road map towards a public listing of the new holding company, as well as the organization, management, and branding of the merging companies.
Aside from ending talks of a merger, Sycor has also stopped the search for a partner. Instead, it will continue to pursue the strategic goal of becoming the leading full-service provider for SAP and Microsoft services in the IT consulting market under Ottobock Holding.
The already existing collaboration with the medical technology company Ottobock SE & Co. KGaA will be bolstered. Sycor will obtain the necessary financing for the planned growth from the parent company.
In the medium term, there are still plans for Sycor to go public. To do this, the company will be transformed to a European Company (SE) in 2019, giving it a legal form that can be listed on the exchange.