BROKAT Infosystems AG, a provider of secure e-business solutions for the
financial services industry and parent company of Atlanta-based BROKAT
Infosystems, signed a merger agreement with MeTechnology AG, a provider of
electronic banking and e-commerce solutions.
Under terms of the agreement, after a period of partnership, MeTechnology will be merged into BROKAT, including the integration of
MeTechnology’s Me/4 e-commerce solution with BROKAT’s Twister e-services
platform. Financial arrangements were not disclosed.
Both companies currently offer competing solutions to enable financial
institutions and other businesses to connect their disparate backend systems
with various electronic distribution channels, including the Internet, call
centers, mobile phone networks, smart cards, and Web-enabled television.
However, BROKAT’s development efforts have targeted the productivity and
connectivity of the platform, while MeTechnology focuses on the efficient
development of applications and tools.
“The synergy between our companies’ products and business strategies make this
merger a win-win situation for both BROKAT and MeTechnology, as well as for
our respective clients,” said Stefan Rover, CEO of BROKAT. “In addition to
enhancing our comprehensive product offering, the merger will firmly secure
our market leadership of more than 90 percent in Germany and increase our
current 40 percent market share in Europe, enabling us to concentrate on
expanding our international presence, particularly in North America.”
BROKAT`s Twister e-services platform currently is in use at more than 1,500
institutions worldwide, while MeTechnology has more than doubled sales of its
transaction and integration solutions in the last year and has signed some of
the largest banks in Europe as customers, including Postbank, Dresdner Bank
and Commerzbank. Upon completion of the merger, BROKAT will employ
approximately 420 people in more than a dozen offices in Asia, Europe and
North America.
