SIV.AG joins the Harris Group

Roggentin, 11 February 2016

SIV.AG, based in Roggentin, has today signed an agreement with Harris Computer Corporation ("Harris"), a subsidiary of Constellation Software Inc. ("Constellation"). As well as signalling a change of ownership for the company, this agreement marks the start of a new era for SIV.AG, Harris and the European supply market. The agreement has still to be approved by the supervisory authorities.

For Harris, SIV.AG marks an important strategic step into a new market region with outstanding potential. Although the Harris Group already has more than 1,500 customers in the supply market, these have so far primarily been based in North America. SIV.AG therefore represents a stable and growth-orientated platform for Harris and its parent company Constellation for its future ambitions in Germany and Europe generally. To ensure that the transition process from a family business into the international structure of a large group runs smoothly for all stakeholders, the previous Board will remain as it is, although Jörg Sinnig, founder and Chairman of the Board of SIV.AG, will step back from day-to-day management of the business on acquisition, and will move to the Supervisory Board. "We are pleased and grateful that we will continue to have Mr Sinnig, with his experience and knowledge of the market and SIV.AG, on board in future," emphasises Bryce Cooper, Utilities Group President of Harris.

Harris was looking for a strong partner in Germany, and in SIV.AG has found a company which occupies an outstanding market position. The integration of SIV.AG into the globally active major group offers long-term stability, resilience and innovative strength through new access to know-how and technology in the most diverse markets. In connection with this, Harris emphasises sustainability: "Harris' commitment to such projects never ends, we think in terms of decades, not quarters," is how Jeff Bender, CEO of Harris, sums it up. The 40-year history of the Harris business, with over 70 successful acquisitions and not a single divestment, backs him up. As SIV.AG's sustainably stable customer relationships, its existing product and service portfolio, existing partnerships and particularly its employees all contribute to the success of the company, Harris will continue SIV.AG's business activities as before. SIV.AG will therefore remain an operationally independent enterprise. Jörg Sinnig, founder and Chairman of the Board at SIV.AG, stresses that "due to the transformation of SIV.AG into a partner in an international group of companies, not only will the company experience even greater stability and security, but market potential will also multiply greatly."

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