CREALOGIX Group - Growth drivers remain in place
H1 organic revenue growth was 8% and management expects growth to accelerate in H2. Hence, the group remains on target for 10% organic growth in FY18. In January CREALOGIX announced that it was acquiring Innofis, a Barcelona-based digital banking peer, to expand its core digital banking business into the lucrative Middle Eastern markets. As well as expanding the group’s geographical coverage, the acquisition broadens its product offering and creates an opportunity to grow the employee base in a significantly lower-cost market. We will review our forecasts after a prospectus is published for the Innofis acquisition later this month.Crealogix Holding AG is a Switzerland-based company that, together with its subsidiaries, provides software and hardware products for Electronic Banking (E-Banking), Electronic Payment (E-Payment) and Education in Switzerland and Europe. The Company's E-banking solutions comprise E-banking software and platforms, E-banking security, bank interface and communications, and mobile banking solutions, as well as banking servers and a front-office platform for financial advisory services, among others. Its E-payment solutions include payment software, financial software, manual and automatic document readers, and signing and archiving. The Company's educational solutions consist of E-learning software, E-learning contents and Web-based Training (WBT) production, campus management, and various training platforms. In April 2014, it created two subsidiaries CREALOGIX UK LTD and CREALOGIX PTE. LTD. In August 2014, the Company established an Austrian subsidiary in Vienna.
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