AFINUM takes majority stake in DPS ENGINEERING
Context
Afinum acquired a majority stake in DPS Engineering, the German banking software engineering and consulting firm, from its existing shareholders, in a transaction announced in January 2026. The shareholders stayed involved in the business both operationally and financially. It was the first platform investment of the newly launched Afinum X fund. The sellers had been looking for a partner able to accelerate the company’s growth while preserving the way it works, and mandated the advisory boutique Dr. Schwarz-Schilling & Partners in November 2025 to run the process. Afinum intended to support the company’s expansion in Germany and abroad, to widen its services into adjacent sectors such as public administration, and to make add-on acquisitions.
DPS ENGINEERING, which reported an EBITDA margin of [members only] in 2026, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x).
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Target
DPS Engineering develops and maintains the software that banks use to run their operations. Its engineers keep core banking systems running, modernise them as technology and regulation change, and build additional functions on top of them, working on their clients’ systems over long periods rather than selling a packaged product. It also takes over the day-to-day management of those applications on behalf of its customers. Its clients are banks and the service providers that operate systems for them, and the company is based in Baden-Württemberg, Germany.
Ent. Value
€1–100M
Equity Value
[members only]
Multiples
EV / Revenue
[members only]
EV / EBITDA
[members only]
EV / EBIT
[members only]
Historical Financials (EUR)
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| 01/2026 | CORILUS | SOFIA DEVELOPPEMENT | FRANCE | Healthcare |
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| 01/2026 | VERITAS CAPITAL | GLOBAL HEALTHCARE EXCHANGE | UNITED STATES | Healthcare |
| 01/2026 | FOUNDERS | HIPTO | FRANCE | MarTech |
| 01/2026 | SIEMENS | ASTER TECHNOLOGIES | FRANCE | Electronics / Manufacturing |
| 01/2026 | MONTEFIORE INVESTMENT / ACTIVA CAPITAL | ARCHE MC2 | FRANCE | Healthcare |
| 01/2026 | HARVEST | FIRSTANCE | ITALY | Financial Services / Banking |
| 12/2025 | SMARTTRADE TECHNOLOGIES | KACE FINANCIAL | UNITED KINGDOM | Financial Services / Banking |
REFERENCES
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: dps engineering
Acquirer: afinum