Qvest extends portfolio with acquisition of innovation company Hyve
Qvest Group is broadening its range of services through the acquisition of innovation specialist Hyve. With this strategic step, Qvest strengthens in particular its expertise in digital solutions, software and hardware products as well as technology services. Hyve supports companies from various industries across Europe in the development of sustainable innovations for products, services and business models.
The acquisition enables Qvest’s technology experts to achieve a new level of knowledge transfer and thus support existing and new customers even earlier, more comprehensively and more sustainably in the innovation process. From now on, the know-how of the Hyve team will be offered in the Qvest structure in a separate practice, which includes innovation consulting with strategic foresight, customer research as well as the development of prototypes and ready-to-market implementations of digital and hardware products.
Qvest is thus further expanding its end-to-end offering along the digital supply chain with high synergy potential. At the same time, Hyve’s customers will benefit from direct access to Qvest Group’s range of services, such as technology consulting, software development of digital products, and systems integration for media and ICT. The combination of Qvest’s and Hyve’s expertise will enable customers to make innovation strategies future-proof and transform their business models to succeed in an increasingly digital world.
Peter Nöthen, CEO of Qvest Group, said: “The purpose of innovation should always be to generate added value and thus to solve a customer’s problem in the best possible way and completely open to any technology. We at Qvest and the Hyve team pursue this philosophy to the same extent. That is why I am convinced that we can help our customers together in the innovation process with holistically measurable and realisable solutions to strategically leverage their future potentials. With Hyve, we are consistently expanding our service portfolio and will be able to deliver innovative products and solutions to our customers even faster and more efficiently.”
The management and staff of Hyve will remain in place within Qvest Group. The management trio of Hyve, consisting of Dr Giordano Koch, Dr Gregor Jawecki and Gerd Schwarz, will identify innovations potentials for the group across all industries. The renowned innovation expert, founder and previous shareholder of Hyve, Prof Dr Johann Füller, will take on an advisory role for Qvest. He will evaluate topics such as digitalisation, artificial intelligence and sustainability for the company. These impulses will be used by Qvest in consulting and project implementation for international customers.
Dr Giordano Koch, managing director at Hyve, said: “I am convinced that we can offer very attractive services to Qvest’s current and future customers with our expertise in strategic foresight as well as the diverse possibilities in product innovation. At the same time, our Hyve team will benefit from Qvest as a strong partner in the area of consulting and implementation of digital technology solutions. The global presence of Qvest will also help us to accelerate our international growth.”
With Hyve, Qvest underlines its global pioneering role in the innovation-driven media and digital industry and can now share its technology expertise with new clients in additional industries. With customers such as BMW, CWS, E.on, Fraunhofer, Lego, Munich Re, OMV and Siemens, as well as over 400 scientific publications, Hyve is one of the world’s strongest private institutions in innovation research. The company is headquartered in Munich with more than 60 employees, and has additional locations in Vienna, Bern and a digital hub in Las Palmas, Gran Canaria.