Digital workspace innovator RES Software to be acquired by Ivanti
RES Software, a digital workspace software company focused on improving the consumption of IT services through secure, automated workspace and identity provisioning, signed an agreement with US based Ivanti, a global leader in integrating and managing the IT digital workplace.
RES Software (www.res.com) was founded in Den Bosch (The Netherlands) in 1999. The company has grown from a start-up company into a global market leader in the field of user workspace management. RES‘ flagship offering addresses user environment management and identity governance across physical, virtual, and cloud environments via its converged platform. Their capabilities for bulk provisioning and de-provisioning user accounts will combine with Ivanti’s process automation to help IT organizations more effectively automate onboarding and off-boarding processes.
Since Gimv’s initial investment in spring 2010, RES expanded fast geographically in Europe and later on also in North America, the customer base grew significantly and revenues tripled. Today RES is operating in 27 countries with a team of over 250 people and counts about 2 500 customers worldwide. The acquisition by Ivanti aims to empower the company in extending its automation capabilities to a larger pool of applications, platforms and databases.
“We thank Gimv for the valuable and professional partnership, not only for giving us financial support but for their expertise enabling our company to grow into an international software player as well,” said Bob Janssen, Founder and CTO at RES. “Today, we are excited to continue that journey within the Ivanti organization.”
Elderd Land, Partner at Gimv and board member of the company comments: “Originated in the Netherlands, RES has developed into a global player, thanks to its superior technology and visionary skills of its management team. We thank the RES team for the great cooperation over the past years and we are proud having been able to be part of this successful international growth story.”
The transaction is expected to close shortly. Over the 7 year holding period, this investment generated a return in line with Gimv’s long-term average return, with no major impact on the equity value at 31 March 2017. No further details about this transaction will be disclosed.