German-American joint venture gets back on its feet with integrated advice from KPMG

The German SA2 Worldsync and the US-based 1SYNC are international service providers for identification, communication and process standards. They develop worldwide standards for master data in retail and the consumer goods industry, such as the universally known barcode. The new joint venture, based in Lawrenceville, USA, will be a leader in the development and implementation of global master data management solutions, according to GS 1 Germany and GS1 US management.

The exchange of product information has become a crucial success factor far beyond traditional B2B processes. This is because reliable product information is increasingly becoming the decisive key criterion for successful information and communication processes with customers and end users. 1WorldSync already offers its products to over 15,000 companies from more than 40 countries. Customers include world-renowned companies from various industries such as healthcare, food retail, food services as well as the consumer goods industry.

KPMG provided comprehensive support for the project on behalf of GS 1 Germany. The special approach here was the integrated consulting concept. For example, KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG AG) initially advised on the value indication and prepared more extensive economic analyses and comparisons of the joint venture partners.

Together with the Tax department of KPMG AG, KPMG Law advised the team on the tax side and on all contractual issues. This made it possible to provide high-quality support for the entire project “from a single source”. A particular challenge was also due to the different structures: A non-profit organization (1SYNC) and a profit organization (SA2) were set up together as a profit organization in the new company.