Ascent has acquired Tekaris, aGerman software development house with strong data analytics and cloud integration capabilities. This is a significant milestone for Ascent as it opens up a new German market for its services, building on Tekaris’ reputation for exceptional quality, technical maturity and deep vertical specialism in highly regulated, complex industries like reinsurance.
Munich-based Tekaris was established in 2010 and has grown to ~70 employees and €8m revenues from a longstanding customer base that includes Munich Re and 1-2-3 TV. The acquisition of Tekaris represents another step forward in Ascent’s ambitious plans to combine powerful data, software and cloud skills to create world-class digital experiences and solutions for its customers, who include BrewDog, Hive, Radio Times, BDO and the England and Wales Cricket Board.
It also signals the completion of Ascent’s ambition to have five meaningful talent hubs across Europe, joining the UK, Malta, Bulgaria and Portugal. Tekaris’ strong Microsoft credentials align precisely with Ascent’s strategic focus on the Azure ecosystem, building on Ascent’s engineering heritage.
Tekaris’ founders and managing directors Konrad Pfeffer, Robert Rimmele and Josef Stegschuster will immediately become part of Ascent’s leadership team, overseeing the rapid expansion of Ascent’s strategic German hub.
Establishing Ascent in the German market has always been a critical part of the plan. Tekaris is easily one of the most technically mature businesses we have encountered, and the strength of its vertical focus is very attractive. We’ve been working in partnership with them for a number of months and have been impressed by the quality of their work and people, whose relationship with the day-to-day business context of their customers is really exciting.
Stewart Smythe, CEO, Ascent
Smythe continued: “The acquisition will sustain and build on Tekaris’ reputation for engineering quality and problem-solving in highly regulated, complex sectors. Equally importantly, it will give Tekaris’ talented teams the ability to scale their success, take on more customer projects and build a robust new business and talent acquisition engine to deliver on their ambitions.”
Konrad Pfeffer, Founder and Managing Partner at Tekaris said: “Tekaris and Ascent are a great match in terms of capability, technology stack and work ethic. We felt a strong connection from the very beginning, and the level of professionalism on all levels of Ascent is really impressive. With Ascent, we will be able to scale our business as an integral part of an international organisation that will allow us to provide a broader range of services to our customers.”
Simon Hitchcock, Managing Partner at Horizon Capital concluded: “Tekaris is an important acquisition, adding significant scale to the business present in the DACH market and strengthening Ascent’s Financial Services vertical capability. We look forward to supporting the growth of Ascent in the DACH region both organically and through acquisition.”