Deloitte Legal advises FOCONIS on the acquisition of GenoData

A Deloitte Legal team around Max Lüerßen (Counsel) and Felix Felleisen (Partner, both Corporate/M&A, Düsseldorf) has advised financial software provider FOCONIS on its acquisition of GenoData EDV-Systeme GmbH. The acquisition was made with the support of Main Capital, whose portfolio includes FOCONIS. The acquirer was FOCONIS Holding GmbH, which also holds all shares in FOCONIS AG. The previous managing director of GenoData, Mr. Bernd Frese, remains on board.

The acquisition is another important building block in the FOCONIS Group's strategy to further strengthen its position as a leading German software provider for data management and business intelligence solutions in the banking sector and a strong, trusted and experienced partner for delivering specialized solutions to a rapidly evolving banking environment.

GenoData, founded in 1992 and headquartered in Landau (Rhineland-Palatinate), is a medium-sized IT services company for cooperatives and the financial sector. The company develops customized products for its customers and maintains a modularly designed product and service range covering all aspects of data and process management as well as business intelligence.

As a leading German software provider in the finance sector, FOCONIS offers software solutions for data quality, control and compliance and supports financial institutions in internal reporting and compliance with legal requirements. Its customer portfolio includes more than 600 customers from the financial services industry with a special focus on banks in German-speaking countries.

Within the FOCONIS group, GenoData will continue to focus on its core competencies in the areas of sales management, reporting and online/offline processes, while FOCONIS will maintain its focus on regulatory requirements in the context of internal control systems. By joining forces, both companies will be able to offer more comprehensive and effective solutions for their customers. At the same time, by concentrating on internal control systems, FOCONIS will be able to provide banks with enhanced compliance and risk management capabilities.

The team led by Düsseldorf-based Deloitte Legal attorneys Felix Felleisen and Max Lüerßen has advised Main Capital on a number of platform and add-on transactions and exits since 2015. The software investor had also relied on the Deloitte Legal team for the acquisition of the majority stake in FOCONIS in 2021. The trusting cooperation in the course of the acquisition led to FOCONIS also calling on the services of the Big4 law firm for add-on transactions, such as the first add-on, the acquisition of emagixx and its subsequent merger into FOCONIS AG.

Advisors Main Capital:
Deloitte Legal: Max Lüerßen (Counsel, Corporate/M&A, Düsseldorf, Lead), Felix Felleisen (Partner, Corporate/M&A, Düsseldorf, Co-Lead); Frauke Heudtlass (Partner, Employment Law, Düsseldorf); Dr. Fleur Johanna Prop, LL.M. (Counsel, Corporate/M&A, Düsseldorf); Gunnar Fehringer (Senior Associate, Commercial, Hannover); Nicole Deneke, Nicole Rurik (Associates, Corporate/M&A, Düsseldorf), Leonie Onkelbach (Associate, Employment Law, Düsseldorf).

^{Published: April 2023}