Press release - November 7, 2019
CONTACT Software acquires majority stake in ISKO engineers AG
The leading provider of solutions for the development and operation of smart products acquires the majority of shares in Munich-based ISKO engineers AG.
ISKO, headquartered in Munich, Germany, is an expert and solution provider for modeling, validating and verifying products in the automotive and mechanical engineering sectors through Computer Aided Engineering (CAE). The company's customers include all well-known German automotive manufacturers and suppliers.
CONTACT and ISKO are two companies with a clear focus, many years of experience and high competence in the field of digital product models and associated product development processes. CONTACT focuses on product and process structures in order to support division of labour, collaboration and validity through work products. ISKO focuses on complementary procedures, methods, CAE processes and tools that model and simulate the physical behavior of product components and systems and thus optimally complement CONTACT's range of services.
With CONTACT’s investment, the two companies are intensifying their long-standing trusting cooperation. It opens up valuable synergies from the combination of data and process management and simulation methods. This includes consulting services for management and methods of both companies as well as the respective portfolio of software solutions.
The common goal is to make sustainable use of the potential of digitization and model-based systems engineering. Companies and users are provided with suitable CAx tools and solutions for data and process management as well as for the interface between tools and management. Initial results can be expected, for example, in the area of simulation management. In addition, investments in the area of machine learning will be increased.
"ISKO and CONTACT have been working together for many years. We are convinced that the partnership will enable us to make even better use of the existing potential," explains Karl Heinz Zachries, CEO and founder of CONTACT Software. "With now 15 OEMs as customers, we are an interesting solution provider for the industry," Zachries continues.
"Our customers and, especially, our OEM partners expect us to provide the highest level of methodological and, increasingly, IT expertise. Through the connection with CONTACT, we can now meet this demand even better," emphasizes Michael Krause, member of the Executive Board of ISKO engineers AG.
ISKO engineers will continue to be managed as an independent company. The ISKO founders Michael Krause and Michael Probst remain shareholders and board members of ISKO engineers AG and will continue to manage the company’s operations in the future.
"We are looking forward to working with the exceptionally competent, talented and young ISKO team. It is our aim to use the complementary potential for the further growth of both companies", points out Zachries.