Amadeus Fire Group acquires e-learning platform Masterplan.
Strategic Growth Boost in the Digital B2B Training Market
Frankfurt/Main / Berlin, 24th September 2025 – The Amadeus Fire Group (ISIN: DE0005093108, Prime Standard, SDAX), one of Germany's leading providers of personnel services and professional training, acquires 100 percent of the shares in Masterplan com GmbH. The Berlin-based tech company operates on a software-as-a-service (SaaS) model with reoccurring subscription revenue and is one of the innovative e-learning engagement platforms for corporate training. The closing is taking place today. The enterprise value amounts to around € 20 million including additions to current assets and excluding net debt.
The acquisition strengthens the position of the Amadeus Fire Group in the dynamically growing market for digital B2B training, which is facing a shift in paradigm due to AI. Masterplan is well positioned for ongoing growth, both strategically and operationally. The company expects revenue of around € 8.3 million for 2025. The management plans to significantly increase revenue in 2026 and to break into profitability.
‘This acquisition is a strategic milestone for our growth in the area of digital training,‘ welcomes Robert von Wülfing, CEO of Amadeus Fire AG, the first transaction of the financial year. ‘With Masterplan, we are expanding our training portfolio with a scalable SaaS platform and establishing the basis for a high-growth model in the B2B segment. This move elevates us to the league of EdTech providers,’ emphasised Robert von Wülfing the relevance of the acquisition.
Masterplan focuses on the German EdTech market, which has a volume of around € 17 billion until 2030 and is expected to grow by more than 13 percent per year until then. The Company offers over 3,500 video courses in more than 26 languages and already counts more than 300 companies as customers, including numerous DAX-listed companies and international corporations (e.g. VW, Otto Group, DZ Bank).
Scalability, Internationalisation, Synergies
Founded in 2017, Masterplan operates on the basis of a cloud-based business model. The platform fits right into existing HR and learning systems and impresses with high customer satisfaction, tech flexibility, and AI-powered didactics. The recently expanded language features enable efficient internationalisation. The first steps have already been prepared through existing customers with an international presence.
Monika Wiederhold, COO Training at Amadeus Fire AG: ‘Masterplan optimally complements our training services – technologically, didactically and commercially. The platform offers significant cross-selling potential within our existing sales structure, particularly regarding the B2B business of personnel services and our Steuer-Fachschule Dr. Endriss. Our objective is to establish a market-leading B2B learning platform in the medium term that integrates partner content in addition to our own content – as a genuine digital education infrastructure for companies.’
The Amadeus Fire Group generated a consolidated revenue of around € 437 million in the financial year 2024, of which around € 169 million relates to the Training segment. The strategic integration of Masterplan is not only intended to secure revenue growth, but also to leverage new synergies in sales, marketing and content development.
Growth Market With Social Relevance
The demand for digital professional training is increasing: 82 percent of companies intend to maintain or increase their training budgets in the upcoming years. At the same time, the shortage of skilled workers raises the structural need for professional training. With its approach – learning as an experience, not as an obligation – Masterplan strikes a chord in the world of work.
‘This is a truly ideal partnership for us,’ says Stefan Peukert, Managing Director and co-founder of Masterplan. ‘Together with Amadeus Fire, we are bundling technology, sales power and market access to build a European EdTech platform. In the midst of structural change, digitalisation and the rapid rise of artificial intelligence, new visions for professional training are needed. Our common goal is to actively shape scalable professional training that works and accompanies people, companies and societies through transformation."
The existing management team and all 47 employees will remain on board.
About Amadeus Fire
The Amadeus Fire Group, with headquarters in Frankfurt/Main, is one of the leading providers of personnel services and professional training in Germany. The focus is on the placement of specialised professionals and executives, as well as training and professional development in the commercial and IT sectors. Temporary staffing, permanent placement, interim and project management belong to the services offered in the Personnel Services segment. The Training segment offers practice-orient ed training courses for private individuals and companies, as well as publicly funded training. Further information about the company →
About Masterplan
Since 2017, Masterplan has been making corporate training simple, effective and popular with its e-learning platform. Launched by Stefan Peukert, Daniel Schütt, Kate Scisel, Nick Pfisterer und Daniel Mendalka in Bochum, the platform combines high-quality video courses with intuitive software and helps companies to firmly embed learning into everyday working life. The course offering comprises over 11,000 learning elements on topics such as digitalisation, leadership and soft skills in over 26 languages. Features such as individual learning paths and an AI coach (Masterplan PACE) ensure maximum relevance and motivation. More than 300 companies – including the Otto Group, VW and DZ Bank – rely on Masterplan. Further information about the company →
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