Wendel (Euronext: MF.FP), through its investment arm Wendel Growth1, announced today
that it has entered into a definitive agreement to acquire a minority interest of Tadaweb.
Wendel will make an equity investment of €15 million to support Tadaweb’s growth. The
transaction is expected to close in the first quarter of 2023, subject to customary conditions
and regulatory approvals.
Tadaweb delivers open-source intelligence (OSINT) platforms that enable organizations to
generate actionable intelligence by making analysts’ investigative methods hyper-efficient,
reducing time to insight from days to minutes. Tadaweb’s platforms scale analysts’ expertise
across the vast, volatile reaches of the internet. This fast growth company, employing over
120 people, is headquartered in Luxembourg with offices in Paris, London, and Ottawa.
Jérôme Michiels, EVP, CFO and Head of Wendel Growth, said: “I am very pleased to
welcome Tadaweb into Wendel’s portfolio. This first direct investment in Europe by the
Wendel Growth investment team, led by Antoine Izsak, is fully in line with what we want to
target: innovative companies with high growth and leadership potential, led by committed

Antoine Izsak, Head of Growth Equity said: “We are delighted to make our first investment
in Tadaweb, a leader in the fast-growing OSINT market, where the company offers a unique
set of services and features as well as a world-class team. I’m looking forward to
implementing the partnership that we’re creating with François Gaspard and Genna Elvin
and their teams.”
Genna Elvin, Chief Tada Officer and cofounder stated: “This investment marks another
major milestone in our history. It will accelerate our expansion globally, including our entry
into the United States and additional European markets. We have been a profitable
company for over 5 years, and this represents a pivotal step for the company. Our recently
expanded leadership team, along with this relationship, significantly shifts our ability to scale
our products and the global markets we serve.”
1 Formerly Wendel Lab

François Gaspard, Chief Executive Officer and cofounder, shared: “Becoming part of
the Wendel portfolio, is another step in our long-term growth plans worldwide. We have a
shared history in Luxembourg as well as France and have a shared commitment to building
enduring businesses. At Tadaweb, we continue to be deeply steeped in our European roots.
This opportunity to partner with Antoine and the Wendel Growth team, is truly a special
moment in our story.”

Ted Hickey, Head of Strategy: “Our leadership team is excited to leverage the expertise
and global access Wendel Growth provides to their portfolio companies, which will be
important as we expand into new markets and scale our open-source intelligence platforms.”

About Wendel Growth:
With Wendel Growth (formerly Wendel Lab), Wendel invests via funds or directly in innovative, high-growth companies.
With close to €170 million already committed through the initiative in recent years, Wendel Growth seeks direct investment and coinvestment opportunities in startups. To make these direct investments, like the 2019 investment in AlphaSense, Wendel Growth is supported by a new team made up of two professionals experienced in this asset class, including Antoine Izsak, who joined Wendel in early February as Head of Growth Equity. Mr. Izsak was previously Investment Director at Bpifrance. Wendel’s ambition is to invest up to €50 million in scale ups in Europe and North America and will continue to invest in funds and funds of funds.

About Tadaweb:
Tadaweb reshapes how organizations generate intelligence from publicly available information, helping them detect critical trends and accelerate their investigations, mirroring analysts methods in a hyper-efficient and scalable process, reducing time to actionable insight from weeks to minutes. Learn more at tadaweb.com

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