Elaxy

Leading software and IT service provider for banks, financial service providers and insurance companies

 

Company

Elaxy is one of the most reputable software and IT service providers for banks, financial service providers and insurance companies. Comprehensive technology and industry expertise are the basis for advice, information, planning and transaction solutions through which Elaxy helps its customers to use their sales potential more efficiently, increase the quality of advice and customer loyalty, accelerate processes and reduce costs significantly.

Initial Situation

Elaxy was a subsidiary of a listed IT group looking for a buyer as part of a realignment. In order to support further growth of the business and to seize the opportunities in the market for banking software, Steadfast Capital acquired, togehter with the existing management team, Elaxy group in August 2001.

Corporate Development

After the spin-off from the parent company, new management and reporting structures were implemented, including external recruitment. After the attack on the Wold Trade Center in September 2001 Banking business environment deteriorated. Steadfast Capital and management developed a strategy of cost savings and targeted product developments through which Elaxy could benefit from the weakness of other market participants and accordingly gained market share. This successful positioning attracted the interest of strategic buyers and Elaxy was sold to a long-term business partner in July 2005.