London, United Kingdom-based leading global alternative investment firm Investcorp’s global technology arm, Investcorp Technology Partners (ITP), entered into an agreement to acquire a majority stake in VEDA. The latter is a leading full-suite HR software and digitally-enabled payroll-as-a-service provider in the DACH region. The company announced the acquisition on January 02, 2023. As a part of the deal, VEDA’s CEO, Ralf Graessler, plans to remain invested in the Company alongside Investcorp. However, the company did not disclose the terms of the transaction.
Purpose of acquisition by Investcorp
ITP, as the VEDA’s first institutional investor, seeks to strengthen the company’s go-to-market strategy. It also has plans to build out its portfolio of products and services further. Meanwhile, the company focuses on its fast-growing cloud business.
In addition, the investment allows VEDA to grow through add-on acquisitions of companies with complementary products and services.
What the ITP official has to add
Georg Knoflach, Managing Director at ITP, said, “Investcorp Technology Partners is pleased to be investing in VEDA, a company that continues to have a leading position in the ca. €3 billion DACH HR and payroll software / services market for SMEs. We were impressed by the quality of VEDA’s products and go-to-market strategy, and we see incredible opportunities to support the Company as it helps more SMEs move their mission-critical HR services to the cloud. We look forward to partnering with CEO Ralf Graessler and the entire VEDA team on this next phase for the Company”.
What the VEDA official has to comment
Ralf Graessler, CEO of VEDA, further said, “We are very proud to be bringing in Investcorp Technology Partners as VEDA’s first institutional investor. ITP’s knowledge of our sector and market are unparalleled, and they are the perfect partner for us as we move into our next stage of growth, both in terms of digitalisation and through further acquisitions. VEDA will continue to move from strength to strength under this new partnership as we bring exceptional HR software solutions and services to even more companies in the DACH region.”
About ITP
ITP established its market-leading position by investing in lower mid-market technology companies. It further places a specific focus on Software, Data / Analytics, Cybersecurity, and Fintech. The investment in VEDA represents the fourth investment from ITP’s global fund, Investcorp Technology Partners V. It earlier invested in HWG Sababa (Cybersecurity, Italy), Zift Solutions (PRM Software, USA), and NetRom (Software engineering, the Netherlands). The transaction is expected to close in Q1 2024. It is further subject to customary closing conditions.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
, entered into an agreement to acquire a majority stake in VEDA.){kind=link}