New Strategic Investor for EDI Specialist Crossgate (formerly indatex SCI)
Al-Jomaih Group becomes strategic investor in EDI specialist Crossgate AG, Al-Jomaih invests an interesting amount of several million Euro in Crossgate AG, Crossgate AG to develop solution for electronic B2B transfers
Starnberg, October 4th, 2006 – The Al-Jomaih Group, one of Saudi Arabia’s largest business conglomerates, has joined Otto Wolff von Amerongen and the Hopp family as the third large-scale investor in Crossgate AG. The three investors provide extensive funding capital for the well running Starnberg-based EDI specialists to internationalize the business model on a large scale. With its strategic investment, Al-Jomaih aims at further developments in the capital market and the leveraging of international business opportunities with Otto Wolff and the Hopp family. Crossgate has specialized in solutions for electronic data transfer, initially in the segments of automotive, manufacturing and logistics. In this field, the Business Integration Platform (B.I.P.) has already become a de facto standard for the fully automatic exchange of B2B business data.
The B.I.P. adapts the respective incoming and outgoing formats to the required IT infrastructures, which allows information to be further processed immediately and error-free. Billing is transaction-based for the number of documents transferred or using a flat-fee scheme.
The representative of the office of the Al-Jomaih family, commented: ”We firmly believe the Crossgate business modell will transform the market. For us, Cross Automation is a key concept for the future because it enables, for the first time, the unlimited electronic exchange of business data across all formats and processes. The end-to-end electronic handling of business processes is a topic that concerns millions of organizations all over the globe. This makes us very confident for the growth perspective of the company. Our goal is to leverage Crossgate’s services for all companies and ventures of Al-Jomaih and enable Crossgate the entry in the Middle Eastern and Asian markets.“
Otto Wolff von Amerongen expressly welcomes the commitment of the new partner. “Our house considers the Al-Jomaih Group the perfect partner for the successful international positioning of the Crossgate model.”
“With the strategic alliance between Hopp, Wolff, and Al-Jomaih as the new third large-scale investor, Crossgate will maintain business relations with every relevant company over the next three years and handle the core processes for them. This will establish the European standard data highway for all critical business processes among and within organizations,” confirms Wolfgang Weidmann, Managing Director of Otto Wolff Industrieberatung.
Daniel Hopp, Managing Director of the Hopp DAH investment trust, is also happy with the commitment of Al-Jomaih: ”Al-Jomaih is an international key player, both as an industrial conglomerate as well as an investor. I am looking forward to work with Al-Jomaih.”
Dr. Rainer Marquart, Managing Director of Hopp Capital GmbH (Managing Director of the Daniel Hopp family office), adds: ”The investor group behind Crossgate is further strengthened with the addition of Al-Jomaih – we will join forces to establish a truly global business model with Crossgate and to make it a success.”
Stefan Tittel, Managing Director of Crossgate, is also enthusiastic: ”AlJomaih’s relations with the international financial world are a big asset for Crossgate. .we have found Al-Jomaih as an internationally well connected company whose investments have always been very successful.”
From Indatex to Crossgate
Since its inception as Indatex SCI GmbH in 2001, the company that is now known as Crossgate was initially funded by Otto Wolff von Amerongen. Under this roof, a high-caliber team developed the B.I.P. Business Integration Platform, which enabled the creation of an EDI solution for electronic data transfer and which forms the basis of the complete range of products and solutions offered by Crossgate AG. With B.I.P., Crossgate has already established itself as a major force in the market for transaction-based data exchange services in the automotive, manufacturing, and logistic sectors.
In this year’s April, the family of the SAP founder and major shareholder Dietmar Hopp took an interest of 28 per cent in Indatex SCI GmbH through Daniel Hopp. indatex is right now in the legal procedure to change to Crossgate AG which will be completed in October. With the recent commitment of Al-Jomaih Group, one of Middle East’s leading business conglomerates has invested in the EDI specialist.
Al-Jomaih was founded in 1936. Its name has been known for quality, trust, reliability and customer satisfaction since 70 years. The Al-Jomaih family is well connected to the international financial community and maintains interests/joint ventures in/with Shell, Pepsi, General Motors, two GSM licenses for the Middle East, various investment banks, the only private oil and gas development company of Saudi Arabia as well as many logistic providers, cross docks and machine manufacturers. Even with the Al-Jomaih family joining the group of investors, Otto Wolff will remain the majority shareholder and retain the same ties to Crossgate as before.
By winning the new strategic investment by Al-Jomaih Group, Crossgate and its partners achieved another milestone toward their goal of developing electronic data exchange and interoperability into a service that can be accessed by Crossgate customers around the world as a flexible, demand-based offering.
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