Today ICT Group N.V. (‘ICT’) announces the acquisition of 100% of the shares of Yellow Star Solutions Holding B.V. ( ‘Yellowstar’). Yellowstar provides web-based solutions offering real-time insight, access and control in supply chains. As of January 2021, the company employs approximately 80 people and reports annual turnover of approximately € 8 million. Yellowstar is active in the same geographical markets as ICT. Closing of the transaction is anticipated to take place early January.
The acquisition of Yellowstar is in line with the growth strategy of ICT. Yellowstar strengthens ICT’s position in the industrial, trade, retail and logistics markets. Furthermore, Yellowstar’s high-end and own IP supply chain software solutions will enhance ICT’s software offering and consequently increase ICT’s recurring revenue base.
Yellowstar, founded in 2009 and located in Barendrecht, makes supply chains fully predictable and transparent. Yellowstar also realises customized software solutions for transport management systems, dynamic planning boards, terminal operating systems, customer and carrier portals. Its software enables all partners in the supply chain to seamlessly cooperate 24/7.
Yellowstar will continue to operate as a separate, independent entity, with its own market identity and software solutions for specific customer groups.
Jos Blejie, CEO ICT Group: “I am delighted to welcome the people of Yellowstar as our new colleagues. The company services a high quality reputable customer base and has an international focus. This acquisition is important to ICT as it strengthens our position in the logistics and industry markets and expands our own IP solutions portfolio.”
Stijn Scheepers, CEO of Yellowstar: “We look forward to being a part of the ICT Group. For us, it lays the foundation for further growth in the markets in which we are active with our IP software for supply chain solutions. I am convinced that we constitute a true addition to the existing portfolio of the ICT Group and that we will mutually reinforce each other. Customers will mainly benefit from our greater operational strength and business power.”
No further financial details will be disclosed.