M&A Deal Summary

SEB Acquires AirPlus

On June 21, 2023, SEB acquired information technology company AirPlus from Deutsche Lufthansa for 450M EUR

Acquisition Highlights
  • This is SEB’s 1st transaction in the Information Technology sector.
  • This is SEB’s 0th largest (disclosed) transaction.
  • This is SEB’s 1st transaction in Germany.

M&A Deal Summary
Date 2023-06-21
Target AirPlus
Sector Information Technology
Buyer(s) SEB
Sellers(s) Deutsche Lufthansa
Deal Type Divestiture
Deal Value 450M EUR

Target

AirPlus

Neu-Isenburg, Germany
website
AirPlus is a provider of corporate payment services, offering company accounts, virtual cards, and corporate cards to a diversified base of about 53,000 corporate customers. The company is operating on a modern IT platform after having made significant investments in its IT transformation for several years. AirPlus is based in Neu-Isenburg, Germany.

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Buyer(S) 1

Buyer

SEB

Stockholm, Sweden

website

Category Company
Founded 1856
Sector Financial Services
Employees15,548
Revenue 49.7B SEK (2020)
DESCRIPTION

SEB offering Swedish small and medium-sized enterprises a full service offering, and growing the savings area while enhancing customer satisfaction. SEB was founded in 1856 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-07 Norcospectra

Oslo, Norway

Norcospectra provides tailor-made interior solutions for commercial spaces to clients in Norway, Poland, and Sweden. The offering covers concept design, in-house production, and project management with a dedication to sustainability. The company sells, manufacture and deliver customer unique shop interior concepts. The modern manufacturing enables the company to be a cost-efficient and reliable partner delivering solutions of a high standard and also serving large international customers with a global foot print. Norcospectra was formed in 1938 and is based in Oslo, Norway.

Sell -

Seller(S) 1

SELLER

Deutsche Lufthansa

Cologne, Germany

website

Category Company
Founded 1926
Sector Airlines
Employees108,072
Revenue 32.8B EUR (2022)
DESCRIPTION

Deutsche Lufthansa is a German airline serving passengers and providing cargo transport services. Deutsche Lufthansa was founded in 1926 and is based in Cologne, Germany.

DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Divestiture) 1 of 1
Country (Germany) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-12-08 Germanwings

Cologne, Germany

Germanwings GmbH is an airline serving passengers and providing cargo transport services.

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