Passenger, Baggage and Cargo Handling Airport Solutions

Acquisition of parts of Axxom Software AG within an asset deal

Berlin, 20 October 2011 – PSI subsidiary PSI Logistics GmbH will be reinforced by 15 employees from the fields of consulting, sales and development at the supply chain optimisation company Axxom Software AG. Parts of the Munich Company were released from the insolvency assets in form of an asset deal. Object of the agreement were employment contracts, assets and existing customer relations.

“With the acquisition of the employees’ know-how, in particular in the combinational optimisation, we are following the goal of complementing our products with the optimisation algorithms from Axxom. In PSI the new employees will find a reliable and stable employer, which can also offer them development opportunities”, explains PSI Logistics Managing Director Wolfgang Albrecht the transaction. “The existing customer relations will be continued without exceptions or limitations. On the one hand we are expanding our customer base with customers such as Avon, adidas, OTTO, BMW or Dr. Oetker, and on the other hand, we offer the customers long-term investment security”, adds Albrecht.

The move of the new employees into the offices at the PSI site in Munich-Schwabing is planned for October 2011.

PSI AG develops and integrates complete solutions, on the basis of its own software products, for the management of energy networks (electricity, gas, oil, heat, water), cross-company production management (metals, automotive, mechanical and plant engineering, mining, logistics) and infrastructure management for transport and safety. PSI was founded in 1969 and employs 1.450 persons in the group.