Software AG intends to float on the Frankfurt Stock Exchange within three years and has reorganised its management team and cut staff as a first step towards achieving its aims.
Erwin Koenigs, the software company?s chief executive has created the post of finance director within the organisation for the first time and employed Volker Dawedeit, who he formerly worked with at Linotype-Hell in Germany, to fill the role.
He has also brought in Helmut Wilke, formerly head of Europe for Centura Software, as sales and marketing director to replace Roman Neumister, who has left the company.
Roopinder Singh, Software AG?s director of marketing and strategic partnerships, said: ?It?s in our plans to float the German company in three years time. Our large customers want to see us go public and it will give us profile and image awareness. But, we have a way to go before we get the company infrastructure right to go public.?
He added that, as part of the reorganisation, Software AG had already pruned back its staff by 500 or 15 per cent of the total, which currently stands at 3,600.
The firm is also looking at how to accelerate sales cycles as product development cycles grow shorter, and is focussing on developing OEM relationships with third party suppliers to increase revenues.
Software AG has also just set up a joint venture company with SAP, which will be headquartered in Darmstadt, Germany and staffed by 50 people.
SAP Systems Integration, which is 60 per cent owned by SAP and 40 per cent owned by Software AG, will sell R/3 professional services, including implementation, training and consultancy into the German market initially, but is expected to expand into the rest of Europe over the next 18-24 months.
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