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Divestiture • Information Technology

SEB Acquires AirPlus

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

Acquisition Context
  • 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.

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

Target Company

AirPlus

Neu-Isenburg, Germany
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 Overview 1

Buyer

SEB

Stockholm, Sweden
Category Company
Founded 1856
Sector Financial Services
Employees19,000
Revenue 81.6B SEK (2024)
DESCRIPTION

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

Deal Context for Buyer #
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

Stockholm, Sweden

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 founded in 1938 and is based in Stockholm, Sweden.

Sell -

Seller Profile 1

SELLER

Deutsche Lufthansa

Cologne, Germany
Category Company
Founded 1926
Sector Airlines
Employees98,739
Revenue 37.6B EUR (2024)
DESCRIPTION

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

Deal Context for Seller #
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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