SynerTrade, rated by Gartner and Cap Gemini as one of the best and most comprehensive vendors of eProcurement and expense analysis solutions worldwide, today announced that its shareholder structure has changed
Munich, August 28th, 2015.- After nearly 15 years with the same strongly-committed shareholders, the Advisory Board decided on a change of control to fuel the company’s future growth towards a worth of €50 million. SynerTrade will thus be part of one of Europe’s largest and most innovative digital companies, Digital Dimension, a subsidiary of Econocom Group. SynerTrade’s management sees this step as an important move to accelerate the company’s growth while leveraging significant synergies across the Digital Dimension group.
Digital Dimension specialises in digital services based on a recurring business model. Its services cover mobile solutions, hosting services and SaaS business software applications and are available through its innovative marketplace. SynerTrade will then bring all its assets and expertise to this ambitious joint venture that seeks to develop large-scale global procurement projects. Through SynerTrade, Digital Dimension will employ 490 professionals.
With this transaction, Digital Dimension now owns 90% of the capital of SynerTrade, which posted revenue of €13 million in 2014. Dr. Eberhard Aust, CEO of SynerTrade, will maintain his shares to ensure his ongoing passion and commitment to the company. He will also remain at the head of the organisation with total confidence in the motivation and support of his management team, who will follow him in this new strategic direction.
He released the following statement:
Joining Digital Dimension will enable us to take on more ambitious projects on a global scale. The complementary offerings of the Digital Dimension companies will help us to support our existing and future customers much better than ever before. From now on we will accelerate our growth strategy, both inorganically and geographically, to lead the eProcurement cloud market across the globe
I am very pleased to welcome SynerTrade on board. The global eProcurement market has tremendous potential and I feel confident that SynerTrade and Digital Dimension, together, will take full advantage of it
Georges Croix, CEO of Digital Dimension
Bryan, Garnier & Co advised the shareholders of SynerTrade on the transaction.