Asseco Western Europe to sell its shareholding in Matrix42
Asseco Western Europe has signed a conditional agreement to sell all the shares it holds in Matrix42, in a management buyout transaction to be conducted in cooperation with funds advised by the Munich-based Private Equity firm – EMERAM Capital Partners GmbH. The parties have agreed not to disclose the sale price.
Matrix42 AG, which has so far been a subsidiary of Asseco Western Europe, operates mainly in Germany, Austria and Switzerland (DACH markets) and in Australia, and offers product lifecycle management applications as well as IT service management software (ITSM). Its products are dedicated to medium-sized enterprises. Matrix42 is a leader in this class of software on the German market. The company’s existing managers have made a proposition to Asseco to conduct a management buyout of the 97.2% equity interest held by Asseco in Matrix42.
“Taking into account our development strategy and the planned expansion into emerging markets, we have approved the idea of a buyout of shares in Matrix42 by its managers and supported them in this process,” said Jacek Duch, Chairman of the Supervisory Board of Asseco Poland. “Matrix42 will remain in very good hands and will be managed by seasoned executives, who perfectly know the company and have a vision how to further develop its business”, he added.
Jochen Jaser, CEO of MATRIX42, said: “On the basis of our reorientation in 2008, Matrix42 has seen consistent positive development. We felt very comfortable as part of Asseco Group and always cooperated with a great degree of trust. In EMERAM, MATRIX42 has found a capable partner to drive our onward growth in core markets as well as our international expansion. In the course of the sale process EMERAM was our clear partner of choice for an even more successful future. With its international network and industry expertise, EMERAM will help MATRIX42 to uncover previously unused potential.”
Kai Köppen, Co-Founder of EMERAM Capital Partners, said: “MATRIX42 is active in a dynamic and exciting market environment, providing future-oriented workplace management solutions. The innovative service portfolio of MATRIX42 also offers a broad range of expansion opportunities. We look forward to supporting the MATRIX42 management in this task and continuing the company’s development as its partner.”
The sale of the shareholding in Matrix42 will be a consecutive step within the process of reorganizing the structure of Asseco Group. In 2014, the Group sold its shareholding in Slovanet, a telecommunications company based in Slovakia. This year in July, our subsidiary Insseco, a provider of software for the Polish insurance industry, was sold to Sapiens International Corporation. Also this year, we have established Asseco Data Systems, a large IT player combining the competence of six Polish subsidiaries of Asseco Group. Recently, Asseco has completed the acquisitions of new companies aiming to enhance our competence and expand our business into new markets. In September, we concluded a EUR 21.5 million deal to acquire a majority interest in Exictos, a Portuguese provider of IT services to the banking sector which operates mainly in African markets. Later in the same month, Asseco signed agreements with the key shareholders in Infovide-Matrix, a Polish IT company, concerning the acquisition of a majority stake and, furthermore, announced a tender offer for all shares in that company.
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About Asseco Poland
Asseco Poland is the largest IT company listed on the Warsaw Stock Exchange. It has developed technologically advanced software solutions for companies and institutions of all key sectors of the economy for more than 20 years. Today, Asseco is the number one software house in Central Europe and the sixth largest software vendor in Europe. Parkiet stock market daily has recognized Asseco as the company of the year in Warsaw’s WIG20 index. Asseco Group is present in 43 countries, employing over 18,000 people. It has provided IT technologies to support business operations as well as development at more than 100,000 companies and organizations. While operating in international markets, Asseco has gained extensive experience, combining the know-how of all the Group’s subsidiaries. The synergy of these competencies provides added value to customers who receive the top quality products.
About MATRIX42
Matrix42 is a top provider of workspace management software. The company offers forward-thinking solutions for modern work environments under its ‘Smarter workspace’ motto. More than 3,000 customers around the world, including BMW, Infineon, and Carl Zeiss, currently manage approximately 3 million workstations using workspace management solutions from Matrix42. Matrix42 operates successfully in seven countries – Germany, Austria, Switzerland, the Netherlands, the United Kingdom, Australia and the United States of America. The company’s headquarters are in Frankfurt am Main in Germany. Matrix42’s products and solutions are designed to manage modern work environments simply and efficiently – across physical, virtual, and mobile workspaces. Matrix42 focuses on user orientation, automation, and process optimisation. The company’s solutions meet the requirements of modern employees who want to work from any location using a wide range of devices, while also addressing the needs of IT departments and businesses. Matrix42 offers its solutions to organisations across different sectors who value forward-looking and efficient workspace management. The company also successfully collaborates with partners who provide on-site consultation to Matrix42 customers. Some of these leading partners include TAP.DE Solutions GmbH, Consulting4IT GmbH, and DSP IT Service GmbH.
About EMERAM Capital Partners
EMERAM Capital Partners was founded in 2012 as an independent partnership aimed at becoming the leading investment company focused on equity investments in "Mittelstand" companies with core markets in Germany, Austria, and Switzerland. Together, the six founding partners have an outstanding and complementary track record of investing in, advising and managing highly successful companies. Collectively, the team has been active as a principal investor for 45 years, completed more than 25 deals, served on more than 40 company boards, and aggregates more than 30 years of experience in both top management consulting and operational management. EMERAM Capital Partners therefore represents some of the most successful and experienced investors within its target segments and combines growing companies.