euro adhoc: P&I Personal & Informatik AG
Mergers - Acquisitions -
P&I takes over time management provider ZHS
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
P&I Personal & Informatik AG is to take over the German-based ZHS group (Wiesbaden) with immediate effect in 2005. The acquisition gives HR software specialists P&I (also Wiesbaden-based), a 100 per cent share in ZHS Verwaltungs GmbH & Co. KG (limited partnership), which itself holds 100 per cent of ZHS Zeitmanagementsysteme Hard- und Software GmbH & Co. KG. The ZHS group generates annual sales of approximately two million euros.
For P&I's CEO Vasilios Triadis, the take-over is part of P&I's growth strategy and will strengthen P&I's position in the HR software solutions market. P&I sees time management as an area of potential growth.
The purchase will enable P&I to upgrade its LOGA Software to a com-plete solution for personnel work. Up to now, the software has encom-passed payroll accounting and personnel management. Time manage-ment as the third core component of human resources management will complement and round off the product portfolio. This step is a logical one for P&I in its consolidation of the subareas of personnel work.
end of announcement euro adhoc 01.04.2005 11:48:04
Further inquiry note:
Herr Andreas Granderath
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