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Aareon takes over utilities specialist phi-Consulting

The acquisition of phi-Consulting GmbH means Aareon is expanding its SAP® business to the energy supply industry. phi-Consulting offers consulting and development services in the SAP® arena that are tailored to the needs of medium-sized utilities.

Mainz/Bochum, 23 October 2015 – Aareon, Europe's leading provider of systems and consulting services for the property industry, has acquired a 100% stake in phi-Consulting GmbH, Bochum, with effect from 1 October 2015. The takeover will enable Aareon to further expand its business activities in the energy industry and so tap new growth potential. This acquisition creates a unique and unprecedented blend of industry know-how. Aareon will benefit from that in view of the stronger cooperation between the housing and energy industries in the context of the energy shift and digitalisation of processes. phi-Consulting GmbH will continue to serve its customers with its own market presence. Its existing business segments, including consulting – in particular for the industry-specific solution for utilities SAP® IS-U – and process integration, will be expanded further. phi-Consulting's customers will also be able to tap into the know-how of the entire Aareal Bank Group, for example in payment transactions or by being able to use Aareon's data centre for secure operation of its systems. The acquisition will allow Aareon's customers to leverage further advantages from digitalisation of business processes. Conceivable solutions include automated meter reading when there is a change of tenant or smart metering. Property companies can also be provided with effective assistance in tapping new business models. Dr. Manfred Alflen, Chairman of the Management Board of Aareon AG comments: "phi-Consulting has many years of experience in developing and implementing consultant solutions based on SAP® IS-U. As a result, we are enhancing our solution portfolio – Aareon Smart World – with key components and so will grow in adjacent sectors to the property industry." Dr. Meinolf Piwek, phi-Consulting GmbH, states: "Aareon's takeover of phi-Consulting opens up the interesting market of the housing industry for us. And at the same time we can keep on offering our customers a reliable service as part of a successful group. Companies from the utility and housing industries alike will benefit from that."

About phi-Consulting

phi-Consulting GmbH helps companies in the energy industry optimise their system flows and business processes. Since being founded in April 2000, it has successfully accomplished many projects in the SAP® arena by developing and implementing concepts. Its core expertise is in mapping and automating business processes in the utilities industry throughout Germany with the aid of SAP® systems. phi-Consulting has around 40 permanent employees.

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