WALLDORF/MUNICH , Germany — Nov. 8, 2021 — SAP Fioneer today announced that it has acquired Hedwell, a software engineering company and specialist in IT consulting focused on insurance solutions.

Embedding Hedwell’s services and expertise across the solution and services portfolio of SAP Fioneer will accelerate our customers’ business transformation and further strengthen SAP Fioneer’s footprint in the financial services market. Headquartered in Germany, Hedwell is an international consulting and software development company that supports insurance groups and companies with digital and business transformation initiatives. From core insurance to finance and risk implementations to consulting and managed services, Hedwell is a reliable partner to its customers across the globe. With its global footprint from Asia Pacific through Europe and to the Americas and its deep understanding of insurance market trends, Hedwell will support SAP Fioneer in becoming the leading global provider of financial services software solutions and platforms.

“We can hardly think of any better way to actively shape the transformation of the industry than teaming up with SAP Fioneer. We are very excited to see our current and future customers benefit from both our companies joining forces and grow together”, said Chirag Shah, Co-CEO, Hedwell. “For us at Hedwell, it is all about synergies – one of our core values is ‘settle for no less than win-win-win’. Combining SAP Fioneer’s technologies and solutions with our focus and broad expertise in the insurance space will multiply the impact both SAP Fioneer and Hedwell are already having on the market”, adds Nikola Djokic, Co-CEO, Hedwell.

“We are excited to welcome Hedwell to SAP Fioneer. Their rich experience in the implementation of our insurance solutions and expertise in digital transformation projects will further strengthen our growth strategy in financial services. Together, we will extend our portfolio and our customers will benefit from additional development and consulting skills,” said Dirk Kruse, CEO, SAP Fioneer.

SAP Fioneer and Hedwell agreed not to disclose the purchase price or other financial details of the transaction.

About Hedwell

Hedwell, headquartered in Germany, is an international consulting and software development company that supports insurance groups and companies with digital and business transformation initiatives. From core insurance to finance and risk implementations to consulting and managed services, Hedwell serves as a reliable partner to its customers across the globe. 

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About SAP Fioneer

SAP Fioneer was launched in 2021 as a joint venture between global technology leader SAP and entrepreneurial investor Dediq to become the world’s leading provider of financial services software solutions and platforms. Counting over 800 customers, SAP Fioneer is a global business with 1,000 employees in 17 offices across 14 countries, a strong presence in Europe, North and Latin America, Middle East and Asia-Pacific with a broad ecosystem of partners.  
By combining the speed and agility of a start-up with the proven capabilities of a best-in-class software company, SAP Fioneer enables banks, insurance companies and challengers to run, transform and grow while meeting their need for speed, scalability, and cost-efficiency through digital business innovation, cloud technology, and solutions that cover banking and insurance processes end-to-end.   

For more information, visit sapfioneer.com. Follow SAP Fioneer on Twitter and on LinkedIn.

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