International expansion of Atlassian offering: TIMETOACT GROUP portfolio company catworkx announces acquisition of EverIT

catworkx, one of Europe’s largest Atlassian Platinum and Enterprise Solution partners and part of Equistone Partners Europe-backed TIMETOACT GROUP, is acquiring EverIT, a specialised Hungarian-based Atlassian Partner. The acquisition will expand catworkx’s market position in Central and Eastern Europe (CEE) and strengthen TIMETOACT GROUP’s global consulting portfolio.

TIMETOACT GROUP, headquartered in Cologne, comprises specialised IT companies across 28 locations in Germany, Austria and Switzerland, as well as in Latvia, Malaysia, Singapore, Spain, Ukraine and the USA. With over 1,300 employees and a comprehensive portfolio of software and consulting services, the digitisation expert primarily concentrates on enterprise and Fortune 1,000 companies, alongside public institutions. The takeover of EverIT, which is the ninth successful acquisition made by TIMETOACT GROUP since Equistone funds acquired a majority stake in the business in June 2021, represents a continuation of the group’s ambitious international growth strategy.

catworkx is a leading partner for Enterprise Integration on the Atlassian platform, an Atlassian Marketplace app vendor and a training provider across the EMEA region. Following its integration into TIMETOACT GROUP in May 2022, catworkx has further strengthened its capabilities through mergers with Atlassian partners brainbits, STAGIL and Zuara. Today, the combined catworkx group has over 200 highly qualified employees across Germany, Austria, Switzerland, Spain, Ukraine and the USA. Its expert team provides tailored, industry-specific solutions, leveraging synergies with the wider TIMETOACT GROUP to offer customers innovative, scalable and standards-driven services.

EverIT, founded in 2008, is a Budapest-based specialised Atlassian Partner focused on providing high-quality software solutions and IT services within the Atlassian ecosystem. The company leverages innovative technologies to address clients' specific business needs, with a strong emphasis on simplicity and thorough business analysis. EverIT is dedicated to helping organisations maximise the potential of Atlassian products through tailored solutions, working in an agile and collaborative manner to ensure seamless alignment with client goals.

catworkx and EverIT have a long-standing partnership and successful track record of executing joint projects. This merger represents the next strategic step in this partnership, with the transaction providing catworkx with a strong foothold in CEE and EverIT with access to a global Atlassian ecosystem. EverIT will become catworkx Hungary and support global projects as well as the expansion of catworkx in the CEE region.

“I am particularly pleased that EverIT and catworkx are now coming together and joining forces in Hungary and Eastern Europe. EverIT directly complements the existing capabilities of catworkx, and this acquisition will consolidate our position as the leading Atlassian partner in both the DACH region and wider Europe,” says Michael Lüer, CEO of catworkx.

“The fact that the long-standing partnership between catworkx and EverIT has evolved into catworkx Hungary shows that we offer IT service providers an attractive home and ideal partner for developing their business going forward. We look forward to growing our presence in the CEE market and working together on joint projects globally,” says Frank Fuchs, Co-Managing Director of TIMETOACT GROUP.

Ferenc Molnár, Founder of EverIT, adds: “We have enjoyed collaborating with the catworkx team and recognise them as a forward-thinking, 21st-century company. With their global reach and innovative approach, catworkx is on track to become a leading global Atlassian provider. The EverIT team is excited to now be a part of this journey. With the resources and network of both catworkx and TIMETOACT GROUP at our disposal, we will not only create value for our customers more efficiently and on a larger scale but also offer excellent career opportunities for our team members.”

Moritz Treude, Director at Equistone, comments: “With this acquisition, the ninth since Equistone funds acquired a majority stake in the business, TIMETOACT GROUP continues its strong growth trajectory. This partnership with EverIT marks an important step for the group – not only in terms of providing access to the fast-growing Central and Eastern European market but also in its development into a leading global Atlassian player.”

Frank Fuchs, Christian Koch and Christian Reifenhäuser are responsible for the transaction on the part of TIMETOACT GROUP. TIMETOACT GROUP was advised during the transaction by bnt attorney in CEE (Legal), Impact Advisory (Financial & Tax), and McDermott Will & Emery Rechtsanwälte Steuerberater (Legal, Antitrust Law). The EverIT shareholders were advised during the transaction by Dr. Schadt Kata (Legal).

The merger remains subject to approval by the relevant competition authorities.