March 2024 / CIC becomes member of TSS Group

Total Specific Solutions (“TSS”) has acquired the leasing & financing software provider C.I.C. Software (“CIC”) in Germany. This is TSS’s first finance solution provider in the German-speaking market, focusing specifically on sales financing and dealership wholesale financing. CIC is the 14th company to join TSS DACH.

CIC Software has an end-to-end software solution for leasing companies and banks, as well as consumer financing with credit companies in the DACH region. Their CICone solution covers all processes from front office aspects like quotations and self-services via the middle office with applications, credit checks, and Risk Engine to the back office with contract management and additional local GAP and IFRS financial accounting.

 

Jasper Bollen, General Manager at TSS DACH: “I am very excited that this dedicated vertical market software company has joined TSS DACH. It is our first company in the leasing and financing sector. CIC knows its market intimately, as they have over 35 years of experience. Their 'Overall Digital Concept' covers all the aspects of the service chain for financial service providers - vertically and horizontally. This means that 98% of all front-, mid-, and back-office are fully digitized. And it all is included in one end-to-end solution. So, they offer their market time savings and error reduction in a very sensitive area, namely finance - a real vertical market player that is customer-driven and thus a great match with TSS.
I look forward to introducing Rainer Eschbaumer and Harald Cich, the managing directors, and the CIC team to TSS and our best practices so that CIC can continue its journey as an independent company of TSS DACH.”

Rainer Eschbaumer, Managing Director at CIC: "CIC has grown to become a leading software solution provider in our sector and has reached a position that we are all very proud of. Now, the time has come to take the next step so we can continue growing as a company. One of the advantages of TSS is the concept of perpetual ownership, meaning that they buy once and hold forever. This provides a strong foundation on which we can continue our future as an independent business of TSS. And we keep our identity, which we so carefully built over the past decades."

Harald Cich, Managing Director at CIC: "As we were looking for a new investor, we also liked that TSS is a software company and understands the business of B2B software. They know the value of VMS solutions, which are mission-critical for the end users. TSS also believes in sharing knowledge and that knowledge travels through people. We get access to a vast library of best practices for running successful software companies and become part of all the knowledge-sharing programs within the group. This will give us new inspiration and insights that we can use to continue our growth.
Rainer, I, and Gudars Ahrabian, who will join as an advisor, look forward to working closely with Jasper and his team."