Mehrwerk acquires German units of Tenerity, PTG
BIELEFELD, GERMANY — Mehrwerk, a company specializing in value-added solutions for banks, insurance companies, and energy suppliers, has announced the acquisition of the German subsidiaries of American competitor Tenerity and Professional Travel GmbH (PTG).
This marks Mehrwerk’s fourth acquisition this year, following the recent acquisition of Hamburg-based FinTech Etvas.
Mehrwerk provides its customers professional processing, comprehensive consulting, and state-of-the-art technology. Tenerity is an engagement company known for its innovative customer loyalty programs, which help partners generate incremental revenue and increase retention. With the addition of Tenerity’s 55-strong team in Hamburg, Mehrwerk Group now has more than 500 employees and over 200 corporate customers, providing services to over 10 million households in Germany.
Professional Travel GmbH (PTG) is a company that offers travel services and high-quality customer service. With the recent acquisition of PTG by Mehrwerk, a provider of marketing services for banks, utilities, and insurance companies, PTG will become part of the expanding Mehrwerk Group.
In addition to the acquisitions, Mehrwerk has established a strategic cooperation with Tenerity International in the area of cyber services for end customers in Germany. Tenerity’s parent company is headquartered in Stamford, Connecticut, and operates in 15 countries internationally.
Michele Conforti, President and Managing Director International of Tenerity, welcomed the successful transaction: “We are pleased to have found such a strong and innovative partner for the further development of our activities in Germany. Both companies complement each other and can offer even better services together, such as cyber services.”
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