adesso opens subsidiary in the Gulf region / Project success in MENA region
offers prospects in large growth market

EQS-News: adesso SE / Key word(s): Expansion
adesso opens subsidiary in the Gulf region / Project success in MENA region
offers prospects in large growth market

03.04.2024 / 10:32 CET/CEST
The issuer is solely responsible for the content of this announcement.

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adesso opens subsidiary in the Gulf region / Project success in MENA region
offers prospects in large growth market

After winning a project with an international bank from Bahrain, adesso is
taking the opportunity to open its first national subsidiary in the MENA
region (Middle East/North Africa). With immediate effect, adesso Arabia Ltd.
will provide its services to customers in the Gulf region from the Saudi
Arabian capital Riyadh. In Riyadh, adesso is already working for the joint
venture between a German insurance company and a Saudi bank and provides
development services from its own global delivery centres. adesso's
commitment on the Arabian Peninsula supports the company's international
growth path and targets a booming market. At the same time, adesso
strengthens its attraction as a partner for globally operating companies
expanding into the MENA region. Dr Andreas Nolte, who is also Managing
Director of adesso insurance solutions GmbH, is responsible for the new
location in Riyadh and assumes a dual role as Managing Director. The new
national subsidiary will initially focus on the core sectors of banking and
insurance. In addition to the realisation of implementation and migration
projects, adesso Arabia will in future develop customised software solutions
together with local customers and project partners.

Investment in a growth market and a rapidly changing region

The foundation of adesso Arabia is in line with adesso's
internationalisation strategy of expanding organically via initial projects
into markets that promise great growth potential. Due to the well-connected
location of the head office on the Arabian Peninsula, the new adesso
location in Riyadh plays a central role in establishing and developing
customer relationships in the Gulf region. Dr Andreas Nolte explains: "The
Middle East, and the Arabian Peninsula in particular, plays an important
role in our internationalisation. Saudi Arabia is a market with double-digit
growth rates and is investing heavily to drive forward digitalisation.
Already today, 97 per cent of all administrative procedures can be completed
digitally."

The MENA region is facing a huge transformation process with economic
diversification efforts. In the medium term, the economy's dependence on the
oil industry is to be reduced and a strong service sector established at the
same time. Saudi Arabia in particular is a pioneer in the Middle East with
its Vision 2030 reform project. The country's strategy of opening up to
foreign donors and companies as well as the massive investments in key areas
such as the education system, the financial sector, healthcare and renewable
energies are favouring structural change. In addition, the state is actively
promoting the development of SMEs and start-ups in order to create highly
skilled jobs for the local population. This is linked to an increased demand
for IT services and offers established digitalisation partners such as
adesso attractive growth opportunities.


adesso Group

With more than 9,500 employees and annual sales of more than EUR 1.1 billion
in 2023, adesso Group is one of the largest German IT service providers with
outstanding growth opportunities. At its own locations in Germany, other
locations in Europe and the first locations in Asia, as well as at numerous
local customers adesso offers consulting and software development services
for optimising core business processes. adesso also offers ready-to-use
software products for standard applications. The development of an own,
industry-specific product portfolio opens up additional growth and earnings
opportunities and is another key element of the adesso strategy. In 2023 and
2020, adesso was awarded the title of the best employer of its size in
Germany across all industries. After having already achieved first place
among IT employers in 2016, 2018 and 2020, adesso was ranked first again in
2023.




Contact:
Martin Möllmann
Head of Investor Relations
Tel.: +49 231 7000-7000
E-Mail: ir@adesso.de


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03.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        adesso SE
                   Adessoplatz 1
                   44269 Dortmund
                   Germany
   Phone:          +49 231 7000-7000
   Fax:            +49 231 7000-1000
   E-mail:         ir@adesso.de
   Internet:       www.adesso-group.de
   ISIN:           DE000A0Z23Q5
   WKN:            A0Z23Q
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate
                   Exchange; London
   EQS News ID:    1864643

End of News EQS News Service
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1864643 03.04.2024 CET/CEST