Tag Archives: Software

Kinnevik supports TravelPerk’s funding round and acquisition of spend management platform

Kinnevik
Kinnevik AB (publ) (“Kinnevik”) today announced it has participated with a USD 37m investment in TravelPerk’s recent USD 200m funding round. TravelPerk also announced the acquisition of Yokoy, a leading spend management solution, to accelerate its vision of an integrated travel and expense management platform.

TravelPerk, a leading SaaS business travel platform, today announced it has raised USD 200m in a funding round led by new investor Atomico alongside EQT Growth with participation from existing investors including Kinnevik and General Catalyst.

The funding will be used to further accelerate growth – with continued expansion into the US market alongside significant investments into technology and AI to deliver the leading travel and expense management platform for SMB and mid-market companies in the US and Europe.

The acquisition of Yokoy, a leading expense management offering for mid-market clients, will enable TravelPerk clients to benefit from a deeper and unified solution to manage travel and expenses under one umbrella.

Akhil Chainwala, Senior Investment Director at Kinnevik and Board member of TravelPerk commented: “We have invested in TravelPerk on eleven different occasions over the last six years. Our belief in the team has been validated by their consistent execution, underpinned by a culture that emphasizes autonomy and performance. We remain early in a secular shift from unmanaged to managed travel solutions, and look forward to continuing to support TravelPerk as they broaden their ambitions to accelerate in the US and in expense management.”

Kinnevik first invested in TravelPerk, now one of its five core companies, in October 2018. The company has since emerged as a stand-out homegrown European software leader. It has achieved a combination of growth and profitability at scale – with annualised booking volumes of over USD 2.5bn, annualised revenue of over USD 200m, growth of over 50 percent per annum in the last two years and reaching EBITDA break-even at the end of 2024. After the funding round and acquisition of Yokoy, Kinnevik remains the company’s largest shareholder.

The funding round values TravelPerk at USD 2.7bn post-money. On a per-share USD basis, this valuation is approximately 40 percent above the valuation underpinning Kinnevik’s net asset value as of 30 September 2024. During the fourth quarter of 2024, and prior to the above events, Kinnevik has also acquired USD 7.5m in secondary shares. The impact of the above events on Kinnevik’s net asset value will be determined through Kinnevik’s established valuation process within which the funding round’s valuation is one of several reference points, and will be announced in connection with the financial results for the fourth quarter and full-year 2024 on Tuesday 4 February 2025.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik’s ambition is to be Europe’s leading listed growth investor. We back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthcare, software, marketplaces and climate tech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe and the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Aptean Enters into Definitive Agreement to Acquire Logility

Charlesbank

Aptean to acquire all outstanding shares of Logility for $14.30 per share in cash

ALPHARETTA, Ga. & ATLANTA – January 24, 2025 – Today, Aptean, a global provider of mission-critical enterprise software solutions backed by TA Associates (“TA”), Insight Partners, Charlesbank Capital Partners (“Charlesbank”), and Clearlake Capital Group, L.P. (“Clearlake”), announced that it has entered into a definitive agreement to acquire Logility Supply Chain Solutions, Inc. (Nasdaq: LGTY) (“Logility” or the “Company”), a leader in AI-first supply chain management software.

Under the terms of the agreement, Aptean will acquire all of Logility’s outstanding common stock for $14.30 per share in an all-cash transaction. The per share purchase price represents a 27.0% premium to the January 23, 2025 Logility closing share price and a 28.4% premium to the 30-day volume-weighted average share price as of that date. In addition, the per share purchase price represents a 30.1% premium to the unaffected Logility closing share price on Friday, December 6, 2024, prior to 2717 Partners’ public letter on December 9, 2024, calling for Logility to review strategic alternatives, and a 34.1% premium to the 30-day volume-weighted average share price as of that date.

Headquartered in Atlanta, Georgia, Logility provides AI-powered, advanced supply chain planning solutions designed to optimize inventory, improve demand forecasting, and streamline production planning. Logility delivers a comprehensive suite of solutions including demand planning, inventory and supply optimization, manufacturing operations, network design, and vendor and sourcing management. Logility’s solutions are used by over 500 clients in more than 80 countries, spanning the consumer durable goods, apparel/accessories, food and beverage, industrial manufacturing, fast moving consumer goods, wholesale distribution, and chemicals verticals.

“Logility possesses years of experience helping global organizations design, build, and manage their supply chains” said Aptean’s CEO, TVN Reddy. “The Logility platform delivers a mission-critical suite of AI-powered supply chain planning solutions designed to address even the most complex requirements. We look forward to welcoming Logility’s loyal customers and experienced team to Aptean.”

“Since TA’s initial investment in 2019, Aptean has continued to be a leader in innovation for its manufacturing and supply chain clients around the globe. We believe that integrating their complementary solution suites will enable Aptean and Logility to further innovate and enhance their offerings, strengthening their shared commitment to driving client success. We are excited to see the potential this partnership can unlock,” said Hythem T. El-Nazer, Co-Managing Partner at TA.

“We are pleased to announce this transaction with Aptean, which will deliver significant and immediate value to our shareholders,” said James B. Miller, Jr., Chairman of Logility’s Board of Directors. “Our Board has consistently evaluated the Company’s standalone plan against other strategic opportunities. With the assistance of our financial and legal advisors, the Board conducted a thorough and fulsome auction process commencing late in the summer of 2024. As a result of this process, we unanimously determined that a sale to Aptean represented the best way to maximize shareholder value while also ensuring the Company remains well-positioned to continue providing innovative and leading solutions to clients.”

“Aptean’s acquisition of Logility represents a new and exciting chapter for our Company,” said Allan Dow, President & CEO of Logility. “Logility’s mission is to help organizations build sustainable, profitable supply chains that improve people’s lives and the world we live in. We look forward to continuing to provide AI‑first solutions to our strong client base alongside Aptean, which has an impressive track record of helping manufacturers and distributors thrive. We believe this transaction is a great outcome for our clients, Company and shareholders and will help Logility achieve its long-term potential.”

Strategic and Financial Benefits

  • Enhanced Focus: By becoming part of Aptean, a privately held company with strong investor backing, Logility will be able to better focus on its long-term strategy without the additional considerations and costs required of a public company.
  • Access to Resources: Aptean will provide Logility access to resources that can help accelerate growth and drive strategy execution.
  • Enhanced Combined Offerings: Both organizations offer complementary leading-quality solution suites with a proven track record of making clients successful. Working alongside each other, the integration of Logility’s and Aptean’s complementary technologies will result in enhanced combined offerings for clients.
  • Shareholder and Client Value: The definitive agreement reflects Logility’s commitment to maximizing shareholder value and provides a foundation for Logility to continue making its clients more successful in the future.

Transaction Details

The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions, including approval of the transaction by Logility’s shareholders and receipt of regulatory approvals. The Logility Board of Directors unanimously approved the definitive agreement and recommends that Logility’s shareholders vote in favor of the transaction. The transaction is not subject to a financing condition.

Upon completion of the transaction, Logility will become part of a privately held company, and its shares of common stock will no longer be listed on The Nasdaq Global Select Market or any other public market.

Advisors

Lazard is serving as financial advisor to Logility, and Jones Day is serving as legal counsel.

Orrick is serving as legal counsel to Aptean.

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ResiDex Software Secures Majority Investment from Accel-KKR

AKKR Logo

Menlo Park, CA, JANUARY 23, 2025 – ResiDex Software, a purpose-built EHR software platform for assisted living and senior care providers, today announced a majority investment from Accel-KKR, a leading technology-focused private equity firm. This strategic investment aims to accelerate ResiDex Software’s growth and innovation in the healthcare technology sector.

ResiDex Software, headquartered in Minneapolis, MN, enables efficient patient health recordkeeping, caregiving, tracking, and other key functions such as billing and CRM, while seeking to ensure regulatory compliance, particularly for assisted living and senior care healthcare providers. The North American assisted living software market, encompassing solutions like Electronic Health Records (EHR), was valued at approximately $17.97 billion in 2023 and is projected to reach $33.55 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.3% from 2024 to 20311.  Residex’s flagship product, RTasks, offers a fully integrated set of features to create effective workplace systems for assisted living organizations and group homes. RTasks streamlines work, enhances organization, and establishes systems of accountability, regardless whether for a large multi-campus organization or a small four-bed group home.

Chris Poelma, incoming CEO of ResiDex, commented, “We are thrilled to join forces with Accel-KKR. Their expertise in scaling technology companies and their commitment to our vision make them the ideal partner for our next phase of growth. According to US census data, the 65+ age population is expected to grow from 56.1 million people in 2020 to 73.1 million by 2030, representing a 30% increase over 10 years. This partnership will enable ResiDex to stay ahead of that growing need, serve our customers and take care of our seniors.”

Accel-KKR’s investment in ResiDex underscores its commitment to investing in innovative technology companies with strong growth potential. This partnership will leverage Accel-KKR’s extensive resources and software expertise to drive ResiDex’s continued success.

Phil Cunningham, Managing Director at Accel-KKR, said, “We are excited to partner with ResiDex, as it has demonstrated success in addressing the unique challenges of healthcare providers that run assisted care, senior care and group home facilities. We look forward to providing support to accelerate ResiDex’s growth and expand their market presence.”

ResiDex founder Dave Berg remarked, “This investment is a testament to ResiDex’s success in providing exceptional service to our customers over many years – and I couldn’t be prouder of our team’s accomplishments. With a backer like Accel-KKR and under Chris’s leadership, ResiDex will continue to thrive and innovate. I wish Chris and the entire ResiDex team the best of luck as they embark on this exciting new chapter.”

About ResiDex Software
ResiDex Software is a leading provider of electronic health record (EHR) solutions, offering a comprehensive suite of tools designed to streamline operations, enhance patient care, and optimize financial performance. Based in Minneapolis, MN, ResiDex Software serves healthcare providers globally, delivering innovative solutions that drive efficiency and growth.

About Accel-KKR
Accel-KKR is a technology-focused investment firm with $21 billion in cumulative capital commitments.  The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth.  At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its partner companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network.  Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives.  Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions.  Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City.

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Workwize Raises $13 Million in Series A Funding to Disrupt IT Asset Management for Globally Distributed Teams

Klass Capital

The new funding will allow Workwize to enhance its AI-driven automation and strengthen its
operations with the launch of a U.S. office in early 2025.

Amsterdam, Netherlands. 16 January 2025. Workwize, a leading platform for global IT hardware asset management, today announced that it closed $13 million in Series A funding led by Klass Capital, with continued support from early-stage investors Peak and Graduate Entrepreneur Fund. This investment will fast-track Workwize’s integration of AI-driven automation, making it the first platform to fully automate the IT equipment lifecycle—from procurement and deployment to retrieval and disposal.

“IT teams worldwide are overwhelmed by the inefficiencies of managing equipment for distributed teams. They waste valuable hours on manual, repetitive tasks and getting caught up in complex vendor management,” said Michiel Meyer, CEO and co-founder of Workwize. “This investment further solidifies our vision of a barrier-free future where managing a global workforce becomes effortless and enables IT workflows to shrink from hours to minutes through smarter automation.”

A recent survey conducted by Workwize of over 150 global enterprises revealed that 48% of IT leaders prioritize ‘operational efficiency and automation.’ Workwize’s platform dramatically cuts IT management time from 27 hours to just 10 minutes per employee for tasks like procuring, deploying, managing, retrieving, and decommissioning IT equipment. What’s more, Workwize customers appreciate the platform’s ease of use, ensuring new hires receive the necessary IT equipment on their first day.

Fully automated hardware asset management: A breakthrough for IT leaders

Traditional IT hardware asset management platforms provide a centralized record of the locations and status of IT equipment, but moving equipment still relies heavily on manual interventions by IT teams. For example, if an overseas employee needs a laptop repair, an IT manager must coordinate with multiple international vendors: sending a shipping label and packaging to the employee, booking the repair, arranging and configuring a replacement laptop, seeking cost approvals, and more.

Once fully automated, Workwize’s AI-driven platform automates the entire lifecycle of IT equipment, eliminating the need for labor-intensive interventions. Workwize improves the efficiency and scalability of repetitive tasks so that IT teams can focus on strategic initiatives. AI and automation are also used to analyze IT assets needed and manage the lifecycle of an organization’s IT hardware inventory globally. The company provides its customers with flexible delivery options, including pre-configured laptops with Mobile Device Management (MDM) from local warehouses, ensures compliance with standards like ISO, repurposes phased-out equipment, prioritizes sustainability, and certifies services to wipe, recycle, or resell IT assets. This leads to significant time savings and delivers an experience that is ten times more efficient, allowing IT teams to be completely hands-off.

“Our investment in Workwize reflects our strong belief in its ability to revolutionize IT management for an increasingly global workforce that demands streamlined solutions,” said Will Anderson, Managing Partner at Klass Capital. “Workwize provides the efficiency and scalability modern enterprises need to thrive in today’s dynamic, borderless business environment.”

Strengthened global operations

In 2024, Workwize has grown more than 3x and its platform is already transforming IT operations for customers, including Adyen, Elastic, EQT, and HelloFresh. The new funding will enable Workwize to expand its global footprint and enhance operations with the launch of a U.S. office in early 2025. Workwize also plans to double its headcount in 2025.

For more information, visit www.goworkwize.com

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LearnPro acquires Redkite Systems

Apiary Capital

We are pleased to announce that the LearnPro Group has acquired Redkite Systems, adding Redkite’s market-leading Smart Training, Competency & Asset Management systems to the LearnPro virtual reality and e-learning software portfolio.

LearnPro Redkite

Redkite serves a diverse range of civilian and military fire services, including prominent global airports such as King Khalid International Airport and London Heathrow. The Redkite bolt-on follows LearnPro’s recent acquisition of Infographics, further establishing the company as a leading software provider to the global emergency services and critical infrastructure sectors.

Costi Karayannis, CEO of the LearnPro Group stated “The addition of Redkite to the LearnPro Group opens up opportunities to extend further into the global aviation and industrial sectors. We are passionate about extending our reach into relevant sectors through trusted products and believe the power of the combined group can drive even more value for our joint customers.”

“The acquisition of Redkite is an exciting opportunity for LearnPro,” said Ed Leeming, Investment Manager at Apiary Capital. “We look forward to supporting the company as it expands its customer base while continuing to deliver a high quality product to the global emergency services sector.”

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TA Announces Completion of Tender Offer for Nexus AG

TA associates

BOSTON and LONDON – TA Associates (“TA” or the “Firm”), a leading global private equity firm, announced today that its holding company, Project Neptune BidCo GmbH, successfully completed its tender offer (the “Offer”) to acquire all outstanding ordinary shares and stock acquisition rights of Nexus AG (“Nexus”), a leading European software company in the e-health sector. This transaction, undertaken in partnership with the Management Board of Nexus, marks a significant milestone in Nexus’s journey, positioning the Company for continued growth and innovation away from a stock market environment.

The Offer, which commenced on November 11, 2024, for 70.00 Euro in cash per share, was completed as scheduled on January 3, 2025, at the end of the additional acceptance period. At the time of completion, the Offer was accepted for 16,402,668 Nexus shares, representing approximately 94.95% of all Nexus shares, including 26.9% which TA secured through irrevocable undertakings with key Nexus shareholders. All of such shares have been accepted for payment in accordance with the terms of the Offer, and TA expects to promptly pay for such shares.

Settlement of the Offer remains subject to customary regulatory conditions, including antitrust and foreign investment control clearances. Subject to the fulfillment of these conditions, settlement of the Offer is expected in Q1 2025, at which point TA intends to delist Nexus from the Frankfurt Stock Exchange, increasing its operational flexibility to focus on long-term growth initiatives.

“TA has followed Nexus’s growth trajectory for many years and admired its leadership in the European e-health market,” said Stefan Dandl, Director at TA. “With its modern technology platform, expansive product portfolio and unwavering focus on customer satisfaction, we believe Nexus is well positioned to capitalize on the growing demand for digital healthcare solutions.”

By taking Nexus private, TA aims to empower the Company to further strengthen its customer offerings, pursue strategic acquisitions and invest significantly in research and development, particularly in areas such as cloud computing and AI-driven solutions.

“We’re excited to partner with Ingo and the exceptional Nexus team to further advance healthcare software solutions that empower healthcare providers and improve patient outcomes,” added Birker Bahnsen, Managing Director at TA.

“Nexus has consistently delivered double-digit growth and strong financial performance,” said Dr. Ingo Behrendt, CEO of Nexus AG. “We believe our strategic partnership with TA will accelerate our ability to develop cutting-edge solutions that enhance the efficiency and quality of care for our customers. With access to significant new resources and greater flexibility to leverage industry tailwinds, we will continue driving value for healthcare providers who trust our platforms to power their digital transformation.”

“After careful consideration, The Supervisory Board and Management Board of Nexus AG unanimously concluded that this strategic partnership represents the best path forward for Nexus, its shareholders and customers,” shared Dr. Hans-Joachim König, Chairman of the Supervisory Board of Nexus AG. “We believe it creates immediate value for Nexus and are excited by the opportunities ahead.”

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 160 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

About Nexus AG
Nexus AG develops and distributes software solutions for the international healthcare market. With the clinical information system (Nexus / KIS) and the integrated diagnostic modules, we now have a uniquely broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within our own product families. Nexus AG employs around 2,030 people, owns sites in nine European countries and supports customers in further 71 countries, in some cases via certified dealers. Due to the continuously growing demand for Nexus products, we have been able to build up a large customer base in recent years and regularly achieve increasing sales and results. Further information on Nexus AG can be found at www.nexus-ehealth.com.

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IK Partners to sell GeoDynamics to Blinqx

IK Partners

Blinqx, a provider of cloud software solutions for small and medium-sized enterprises, corporates and service organisations, today announced that it has signed an agreement to invest in GeoDynamics (“the Company”), a leading Belgian software provider specialised in the development of innovative, high-quality and user-friendly applications for Human Resources (“HR”), planning and Financial Managers. Blinqx is acquiring its stake in the Company from the IK Small Cap II (“IK SC II”) Fund, a fund owned and managed by European private equity firm IK Partners (“IK”). Financial details of the transaction are not disclosed.

This transaction will see GeoDynamics become part of Blinqx as it looks to strengthen its software as a service (“SaaS”) solution for HR and Finance Managers. This new partnership underlines the international growth ambitions of both parties in the Benelux. Following completion of the transaction[1], GeoDynamics will continue to operate independently within Blinqx, under the leadership of existing Managing Directors and Co-Founders Stijn Stragier and Peter Vermeesch. Both Stijn and Peter will also become co-shareholders in Blinqx.

Founded in 2004 and headquartered in Kortrijk, Belgium, GeoDynamics is a leading SaaS platform that automates, digitises and innovates complex time and activity registration and payroll processing for over 3,500 customers, predominantly within the Construction, Service & Installation and Cleaning sectors. Typical GeoDynamics users are in planning, finance, fleet and HR and use this SaaS solution to save significant time on repetitive, manual tasks and easily comply with relevant regulations. Under the leadership of Stijn and Peter, in 20 years, the Company has grown into a professional team with a leading position in its home country Belgium and solid growth ambitions in the Netherlands.

Since the acquisition of GeoDynamics by IK in December 2020, the Company has delivered consistent year-on-year revenue and customer growth. With the support of IK’s experienced team in the Benelux region, GeoDynamics has expanded its leadership, middle management and commercial teams to support customer growth. The Company has also launched several new product features.

Peter Vermeesch, Co-Founder and Managing Director at GeoDynamics, said: “Blinqx is a SaaS player capable of transforming the markets in which it operates through a combination of sector expertise, new technologies and connecting the best software into a total solution. The entrepreneurship of the Blinqx team is evident in every interaction and has also proven itself successful in a short period of time. Bringing the progressive nature of both parties together now helps us both grow even further. For instance, in cooperation with Blinqx, we can bring new features to the market at an accelerated pace.”

Stijn Stragier, Co-Founder and Managing Director at GeoDynamics, added: “Together with Blinqx, we can further expand our footprint in the Netherlands. Additionally, we can start providing our existing customer base in Belgium with connecting software modules and solutions for HR and Finance Managers, which will allow our users to save even more time in their daily business operations. I’d also like to take this opportunity to thank Sander, Frances and their team at IK for all their support over the last four years.”

Sander van Vreumingen and Frances Houweling, Partners at IK Partners and Advisors to the IK SC II Fund, added: “Since investing in GeoDynamics over four years ago now, we remain impressed with the expertise and experience brought by Stijn, Peter and their high-calibre team. During our partnership with them, the Company has grown substantially and we are proud of all that we have achieved together. With its acquisition by Blinqx, GeoDynamics has found a new home where the entrepreneurial spirit of founder-led management serves as a strong unifying force. We wish Stijn, Peter and their new owners every success in the future.”

Ruud van der Kruk, CEO Blinqx, commented: “Welcoming GeoDynamics is a huge step forward in realising our international growth ambitions, as well as expanding our offering in the key sectors we serve. GeoDynamics’ solutions are a great addition to our existing products for HR and Finance Managers, in which we already offer strategic financial planning, workflow management, procurement and data intelligence for Business Services in particular. This expansion underlines our philosophy as a connector of progressive software into a total solution for the user.”

[1] Subject to approval by the Belgian authorities

For more information, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0)7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €17 billion of capital and invested in over 195 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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About Blinqx

Blinqx is a provider of cloud software solutions that empowers business and financial service providers in their growth and success. Blinqx’s state-of-the-art software digitises and optimises the processes of some 200,000 users in various industries, including mortgage & insurance advisers, finance & HR managers, lawyers & legal professionals, accountants, and business service providers. With a track record of exponential growth since its inception in 2019, Blinqx aims to further expand in Europe. www.blinqx.tech

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Bridgepoint partners with Surikat, a leading SaaS provider of Supply Chain Solutions

Bridgepoint

Bridgepoint has announced its partnership together with the CEO and founder of Surikat, a leading provider of software solutions for the maritime and logistics sectors. The investment was made via Bridgepoint Growth II (BG II), its small-cap fund focused on supporting the continued global growth of dynamic, rapidly growing businesses across Europe and North America.

Surikat, headquartered in Gothenburg, Sweden, develops innovative software solutions for land-based and maritime logistics, addressing the complex needs of ports, terminals, and transportation operators globally. The partnership announced today positions Surikat for accelerated expansion and continued leadership on innovation within its market and reflects Bridgepoint’s commitment to supporting companies making use of technology to achieve transformational growth, with strong business models and profitability.

Surikat’s SaaS solutions are centred on its market-leading Terminal Operating System (TOS) and Transport Management System (TMS), which deliver real-time visibility, automation, and operational efficiency. Serving over 35 countries, Surikat has an impressive client portfolio, including Stena Line, P&O Ferries, and Kuehne+Nagel. The company’s highly scalable platform integrates seamlessly into clients’ IT ecosystems, driving measurable ROI while supporting safety and regulatory compliance with key stakeholders.

International demand for modern software solutions in ports and logistics is expanding rapidly, with the global addressable market forecasted to continue to grow at high double-digit rates annually for TOS and transport visibility solutions. This growth is underpinned by increasing adoption of cloud-based systems, regulatory demands, and a global push for greater transparency across supply chains. Surikat has already established itself as a trusted and leading provider in the high-growth niche of mission-critical logistics software for maritime and land based terminals, with an impressive 31% revenue CAGR from 2021 to 2024.

Under the leadership of CEO Andreas Karlsson, who will remain as a significant shareholder alongside Bridgepoint, Surikat will continue to pursue an ambitious growth strategy. Leveraging the depth of sector expertise across Bridgepoint’s global office network, Surikat will expand its presence across new geographies, further enhance its industry-leading software platform, and scale its operations, targeting adjacent markets such as intermodal and inland terminals as well as entry into additional high value geographies such as North America. Bridgepoint will provide strategic guidance and resources to reinforce Surikat’s scalability and position as a preeminent provider in the logistics software sector.

Andreas Karlsson, CEO of Surikat, added:

“Surikat has achieved remarkable profitable growth to date by consistently delivering premium, reliable, and highly innovative mission-critical software for our clients in the maritime and logistics sectors. This partnership with Bridgepoint marks the next exciting chapter in our journey. Benefitting from Bridgepoint’s sector expertise and breadth of resources globally, we are well-positioned to accelerate our expansion into new markets and continue setting new benchmarks for customer value and innovation in the logistics software space.”

Ann Dahlman, Partner at Bridgepoint Growth, commented:

“Surikat is a prime example of the innovative businesses we seek to support. Its cutting-edge software solutions and leading market position align perfectly with our strategy to back high-growth, profitable technology companies. Deploying the full breadth of sector expertise and resources across Bridgepoint’s global office network, we look forward to partnering with Andreas and the team to realize Surikat’s full potential in its European home market, and in exciting new geographies globally.”

The transaction closed in December 2024. The transaction builds on Bridgepoint’s track record of backing high-growth small-cap technology businesses in Europe, such as Condatis, one.network , TicTac as well as leading logistics software businesses such as Unifaun/Memnon, Sinari and PTV Group.

Bridgepoint was advised by Snellman (Legal Advisor), Roland Berger (Commercial Due Diligence), Crosslake (Tech Due Diligence), Alvarez & Marsal (Financial Due Diligence), Svalner (Tax Due Diligence). Surikat was advised by EY and Delphi as Legal Advisor.

Financial terms of the transaction were not disclosed.

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IRIS Software Group Announces Intent to Acquire Dext Software Ltd.

HG Capital

Acquisition to create an integrated, end-to-end solution, advance partner integrations, and drive product innovation for accountants and businesses globally 

London, UK – 3 December 2024 – IRIS Software Group (IRIS), a leading global provider of accountancy, education management, HR and payroll solutions, today announced a definitive agreement to acquire Dext Software Ltd (Dext), a leading bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

On one side of the accounting value chain, IRIS Elements supports accountants and businesses with practice management and compliance functionality, such as accounts production and tax returns. On the other, Dext simplifies bookkeeping and improves productivity by automating routine tasks with AI. Together, both companies will cover the entire end-to-end accountancy workflow, from data entry and processing to compliance, reporting and advisory services.

Currently, many accountants and businesses face “app fatigue” juggling multiple, disconnected tools to get their daily work done. Through integration, IRIS and Dext’s cloud platforms will connect seamlessly with a secure single sign-on (SSO) and share data effortlessly back and forth across both platforms. This will, effectively, create a single, end-to-end view of the entire accountancy workflow. By expanding the global digital footprint in countries like the UK, Canada, France and Australia, the acquisition will also support accountants in staying ahead of rapidly evolving global regulatory and compliance requirements.

Commenting on the agreement, Elona Mortimer-Zhika, CEO of IRIS Software Group said, “With today’s exciting news, we are bringing together our amazing customers, partners, and employees to drive the future of tech in the accountancy industry. We are doubling down on our promise to build and offer the most compliant cloud solutions that deliver our customers the highest levels of productivity and engagement, giving them back the critical time they need to advise their clients, grow their businesses, and do what they love. Accountancy has been the heartland of IRIS for 46 years; together with Dext we have a shared passion to be the biggest supporters and best champions of accountants, globally.”

The transaction will allow IRIS to accelerate Dext’s product roadmap, infuse additional capital and enhance its partner integration program, which already connects to over 35 bookkeeping software platforms and over 11,500 banks & financial institutions. Both IRIS and Dext share a general ledger (GL)-agnostic strategy, ensuring their platforms can integrate with a wide array of accounting software and every bookkeeping provider – connecting multiple workflow streams and providing customers with unparalleled freedom of choice. Accountants and bookkeepers will have the flexibility to use their preferred bookkeeping tools while enjoying the benefits of a smooth, cohesive user experience.

Sabby Gill, CEO of Dext added, “Joining forces with IRIS marks an exciting new chapter for Dext. This partnership enables us to accelerate our product innovation, deepen our integration program, and deliver a complete, end-to-end solution to our customers. I look forward to working alongside the IRIS team to unlock new opportunities for our customers and offer our team members expanded opportunities for personal and professional growth.”

Upon closing, Sabby Gill will form part of the IRIS Global Executive team. The transaction is subject to customary closing conditions and is expected to be finalised by the end of this calendar year.

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Media contact:  
IRIS Software Group
news@irisglobal.com

About IRIS Software Group 
Founded in 1978, IRIS Software Group is a global provider of mission critical, cloud-hosted software solutions and services to more than 100,000 customers across 135 countries. IRIS is a trusted partner to businesses, finance, HR and payroll teams, educational organisations, and accountancy firms of all sizes, providing innovative operational solutions that streamline complex processes, maintain compliance, and unlock growth. Through simplifying, automating and providing insights on everyday mission critical tasks for organisations of all shapes and sizes, IRIS ensures customers can look forward with certainty and confidence. IRIS is certified as a 2024 Great Place to Work® in the UK, Ireland, India, Romania, Canada and the USA. Follow IRIS on Facebook, Twitter, Instagram and LinkedIn. More information on its award-winning software solutions can be found here.

About Dext 
Dext is the leading provider of bookkeeping automation, empowering businesses, accountants, and bookkeepers to thrive through innovative technology that simplifies accounting processes and drives smarter, more timely financial decisions. With financial data extraction accuracy of 99.5%, Dext has been trained on over 1 billion receipts and invoices.

Trusted by 12,000 accounting and bookkeeping firms and 700,00 businesses, Dext seamlessly integrates with most major accounting software and connects to over 11,500 banks, suppliers, and marketplaces worldwide. To date, the company has saved bookkeepers more than 35 million hours of manual data entry. As the global leader in bookkeeping automation, Dext maximizes efficiency and boosts productivity, liberating its customers to focus on what truly maters to them.

Dext was awarded the 2024 Xero Small Business App of the Year in both the UK and the US, plus Best Accounting and Pre-Accounting Specialists 2023 at the Worldwide Finance Awards 2023.

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Nordic Capital-backed Regnology acquires VERMEG’s RegTech division – AGILE – to solidify position as a global market leader

Nordic Capital

Acquisition creates the largest global ecosystem connecting financial regulators and the regulated

Regnology, a leading software provider with a focus on regulatory reporting solutions, announced today the acquisition of VERMEG’s regulatory reporting division – AGILE – which was previously part of the Lombard Risk portfolio. This strategic move underscores Regnology’s commitment to advancing regulatory reporting and solidifies its position as a global leader in end-to-end regulatory reporting solutions for large banks and other financial institutions seeking comprehensive and innovative offering from a single, trusted provider.

Through this acquisition, VERMEG’s robust regulatory reporting solution will be integrated into the Regnology Platform. The AGILE solution suite currently supports over 150 global and international banks spanning the UK, Europe, Asia Pacific, and North America. By incorporating this suite into its offerings, Regnology will enhance its ability to deliver flexible, end-to-end reporting solutions, ranging from comprehensive data management to report generation and submission, all powered by advanced cloud technology. This aligns with the company’s goal to support the transition to granular data and improve automation and data flow across organizations.

This acquisition also expands further Regnology’s international footprint and local expertise. Following the recent acquisition of CG3-1, the combined offering will support both broker-dealer and bank reporting for all types and sizes of regulated financial entities from Tier 1 banks and broker-deals to local community banks in North America. Similarly, the combined company has significant APAC coverage and customer base that includes banks in Hong Kong, Singapore, and Australia together with a number of major regulators across the region.

Rob Mackay, Regnology CEO, commented: “This consolidation marks a pivotal moment in our swift growth trajectory. Regnology will now have a truly global footprint in regulatory reporting to match our global leadership in supervisory collections. This gives us the ability to connect regulators and regulated financial institutions across the globe. We will continue to invest in our technology and our people and leverage our new locations to transform legacy reporting processes, at scale, into an efficient communication network.”

Badreddine Ouali, VERMEG Founder and Co-CEO, stated: “By joining forces with Regnology, AGILE will benefit from a broader global platform and enhanced opportunities for growth and innovation. This strategic move allows VERMEG to concentrate on our core strengths in Collateral Management and Insurance, ensuring we continue to deliver exceptional value to our clients. We are confident that this partnership will drive long-term success for both our companies and our dedicated teams.”

Lutz Kregel, Managing Director, Nordic Capital Advisors, added: “When investing four years ago, Nordic Capital saw great opportunities to support Regnology in transforming the regulatory reporting industry. Since then, the Regnology team has been working diligently, driven by a forward-looking and innovative vision, to ready industry stakeholders for the future of financial regulation, prioritizing efficiency and stability. Together, we’re now reaching a new milestone by looking to creating this global game-changer in regulatory reporting. Nordic Capital is excited about Regnology’s continued journey.”

About Regnology
Regnology is a leading global provider of innovative solutions for supervisory, regulatory and tax reporting. Over 35,000 financial institutions, 70 regulators and tax authorities rely on our solutions to streamline their processes, enhance data quality, and improve efficiency. Building on our unified data ingestion model, Regnology is uniquely positioned to support regulators in data collection and supervisory processes, and the regulated across the full regulatory reporting value chain. Leveraging the expertise of 900+ employees in 16 countries, we help clients navigate the complexities of an ever-evolving, data-intensive regulatory landscape.
For more information, visit www.regnology.net.

About VERMEG
Founded in 1993, VERMEG provides software solutions to over 500 blue-chip clients in more than 40 countries across the banking, insurance, and wealth management industries. The company’s high-quality platform offers best-in-class tools to automate processes and drive digitalization in financial services. Headquartered in Amsterdam with offices in 16 countries, VERMEG employs over 1,000 people worldwide. For more information, visit www.vermeg.com.

Press Contact
Mireille Adebiyi – Chief Marketing Officer
Email: mireille.adebiyi@regnology.net

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