Fujitsu Completes GK Software Acquisition; Company Reports Strong Growth
Japanese IT giant Fujitsu has acquired all shares in GK Software SE. The German retail software company reported a significant increase in sales and profitability over the past two years.
Schöneck, Germany – Japanese IT group Fujitsu acquired all shares in German retail software company GK Software SE during the summer, making GK Software a wholly owned subsidiary. The company also announced a 27.8 percent increase in sales over the past two years.
GK Software SE has been fully owned by the Japanese Fujitsu Group since July, and the company will update its logo on September 15 to include "a Fujitsu company." The takeover process, which began with Fujitsu's voluntary public offer in March 2023, is now officially complete. GK Software will continue as an independent German company focused on the retail sector.
A new management board, led by CEO Michael Scheibner, took office in June 2023. Under their leadership, the company has restructured and significantly improved its sales and earnings. Scheibner stated that the goal was to re-center the business around customers by focusing solutions on their key challenges. This strategy has reportedly increased customer value and created new earning potentials.
GK Software's revenue rose from EUR 152.1 million in fiscal year 2022 to EUR 194.3 million in fiscal year 2024. Simultaneously, the company's profitability improved significantly, with an EBIT of €27.2 million in the past fiscal year, representing a 62.4 percent increase compared to 2022. The EBIT margin consequently rose to 14.0 percent.
The strong growth is underpinned by success in new business. The company secured nearly 40 new customer projects across all continents over the last two years, including several large international retailers. Implementation business with existing customers has also remained robust.