Brocade (company)

Brokat Technologies AG
legal form	Corporation
founding	1994
resolution	November 23, 2001
Seat	Stuttgart , Germany
Number of employees	1,400
Branch	e-business
	Status: 2000

The Brocade Technologies AG (also brocade AG) from 1996 to 2001, a German stock market star of the new economy and the new market and went with the bursting of the dotcom bubble under.

Brokat developed e-business solutions and in 2000 was one of the leading international providers of internet banking solutions (sub-segment of electronic banking ). The modular e-services platform Twister was the basis for the Brokat solutions . This cross-industry software integrated existing IT systems and applications in companies and linked them securely to various electronic channels such as the Internet or mobile communications .

Brokat was founded in 1994 by five friends Stefan Röver (1965–2019, studied law and business administration), Boris Anderer (1958, doctorate in physics), Achim Schlumpberger (1965, computer scientist ), Michael Schumacher (1961, computer scientist) and Michael Janßen (1966, business economist ) founded. The company was originally located in Böblingen near Stuttgart . The company headquarters were later relocated to Stuttgart-Vaihingen . When Brokat went public in 1998, Stefan Roever took on the role of Chief Executive Officer (CEO) together with Boris Anderer as Co-CEO. Stefan Röver was CEO of Brokat from 1999.

Until July 2001, the members of the Supervisory Board included u. a. Falk F. Strascheg . More than 2000 customers worldwide use brocade solutions, including Deutsche Bank , Direkt Anlage Bank ( DAB Bank ), Consors , MLP AG , Comdirect Bank , WestLB , numerous German and Austrian savings banks and Volksbank data centers, Allianz AG , ABN Amro , debitel , T-Motion and the Swiss Post . In 2000 the company had more than 1,400 employees and offices in 17 countries.

In November 2001, the company had to file for bankruptcy due to over-indebtedness. At that point, Michael Janssen was CEO of Brokat. Stefan Röver had switched to the US company eOne Global. The Americans had bought the mobile payment division from Brocade. There are speculations: Röver left the sinking ship, there was a dispute among the founders. Janssen himself declared in 2017 that it was a condition of the sale that Röver switched to eOne. The five founders are still friends.

chronology

September 1994: foundation
September 1998: IPO on the German Neuer Markt . Brokat is the European market leader in Internet banking solutions.
March 1999: MeTechnology merges with Brokat.
May 1999: The board of directors is awarded the " Entrepreneur of the Year " prize in the field of high-tech by the auditors Ernst & Young .
September 1999: WestLB sees enormous growth potential in brocade.
October 1999: Boris Anderer and Achim Schlumpberger leave the Brokat board. Other gives up Co-CEO position and becomes chairman with special duties. Schlumpberger gives up CTO position and concentrates on the development of Twister as a software architect.
November 1999: Intel takes a stake in brocade with around 20 million marks.
March 2000: Brokat places a bond for 125 million euros. The annual interest rate is 11.5 percent. Brokat is considered the world leader in software for Internet banking.
May 2000: Brocade increases sales by 118%.
June 2000: Brokat takes over the US software companies GemStone and Blaze for a total of 1.7 billion German marks in shares. Brokat, Mastercard and Siemens enter into partnership.
October 2000: Siemens takes a stake in brocade with around 141 million marks.
December 2000: Boris Anderer and Achim Schlumpberger leave the company. Other changes to the supervisory board.
February 2001: Brokat receives a patent for electronic signing via cell phone.
April 2001: Due to the sales crisis in the software industry, the board of directors corrects the sales forecast downwards.
June 2001: Brokat sheds a fifth of its 1,450 jobs, closes locations and looks for investors. Half of the share capital has been used up.
July 2001: Brokat reports a quarterly loss of 824 million euros and negotiates with the bondholders about a rescheduling of the corporate bond.
August 2001: The restructuring expert Dirk Pfeil is appointed to the board of Brokat.
November 2001: Brocade is over-indebted. No agreement is reached with the bondholders.
November 23, 2001: Brokat files for bankruptcy due to over-indebtedness .
Brokat's e-banking division was sold to DataDesign AG . The e-payment division went to the US company eONE Global (a First Data company) and was continued as an independent company under Encorus Technologies. Encorus was finally acquired by Qpass in 2005.

Individual evidence

↑ e-commerce solutions from Brokat (University of Hohenheim) ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.@1@ 2
↑ LinkedIn profile Stefan Roever
↑ Obituaries of Stefan Andreas Röver | stuttgart-gedenken.de. Retrieved on May 8, 2020 (German).
↑ LinkedIn profile ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. Boris Other@1@ 2Template: Dead Link / de.linkedin.com

↑ Trivum ( Memento of the original from April 7, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. profile

↑ Auxell ( Memento of the original from March 23, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. profile

↑ GoingPublic Media AG: Securities prospectus dated November 8, 2006 for the public offer of 900,000 units (PDF), p. 88.

↑ Brocade presentation "Advisory Bank", p.4 (1999) (PDF; 1.8 MB)

↑ FirstQuote / Brocade Cooperation (gsc Research, 2000)

↑ Direct Annex Bank Annual Report 1996) (PDF; 731 kB)

↑ FirstQuote / Brocade Cooperation (gsc Research, 2000)

↑ WestLB opts for brocade Twister (Pressrelations, 2000)

↑ The Share of the Day Brokat (Die Welt, 2000)

↑ ABN Amro Bank opts for brocade (pressrelations 1999)

↑ Telekom bundles internet activities (manager magazin, 2000)

↑ Brokat realizes first WAP payment project (Handelsblatt, 2000)

↑ Brocade Annual Report 2000

↑ Claudia Wiggen Broker: Five friends and big money - ard.de. (No longer available online.) Archived from the original on December 1, 2017 ; accessed on November 23, 2017 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.

↑ MeTechnology merged with Brokat (ecin) ( Memento of the original from April 20, 2012 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice.

↑ The Chosen (manager magazin)

↑ WestLB sees enormous potential in high-tech values (Welt Online)

↑ Brocade with new board structure (pressrelations)

↑ Intel joins brocade (golem)

↑ Brocade increases sales by 118% (Golem)

↑ Brokat completes acquisition of GemStone (degap)

↑ Brokat completes acquisition of Blaze

↑ Brokat buys Blaze, GemStone for $ 831.7 million (cnet)

↑ Brokat, Mastercard and Siemens enter into partnership. (Golem)

↑ Siemens takes a stake in the software company Brokat (golem)

↑ Brocade with new management structure (pressrelations)

↑ Brokat receives patent for mobile digital signature (golem)