Ailleron, the leading Polish provider of state-of-the-art technological products and services, and Polish Enterprise Fund VIII, a private equity fund managed by Enterprise Investors (EI) entered into a preliminary agreement for sale of shares and investments in Software Mind. The transaction assumes separation of the entire segment of Ailleron’s activity – Enterprise Services for Software Mind (after a consent from the General Meeting of Shareholders of Ailleron). The value of the separated business segment has been calculated at PLN 150 million (221 million after funds are contributed). Enterprise Investors will purchase 26.7% of Software Mind shares from Ailleron for PLN 40 million, and then recapitalize the company with the amount of PLN 71 million, which will increase the fund’s share up to 50.2%.

Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised nine funds with total capital exceeding EUR 2.5  billion. These funds invested EUR 2 billion in 146 across a range of sectors and exited 134 companies with total gross proceeds of EUR 4.1 billion. To date, these funds invested EUR 112.5 million in 17 companies from the IT sector, including AVG Technologies, BLStream of intive.

The Enterprise Services segment is responsible for comprehensive services of building, development and maintenance of dedicated IT systems for finance and telecommunication trade, as well as Silicon Valley “unicorns”. The company establishes long-term partnerships with customers, helping to scale dynamically developing businesses. The segment may be proud of abundant experience related to support  for processes of digital transformation of companies worldwide, establishing research and development teams in liaison with customers. The scope of services provided encompasses the entire spectrum of needs of customers who want to transform their organizations and adapt the product offer to modern electronic channels. Enterprise Services cooperates with numerous customers worldwide, for instance in the USA, the UK, Switzerland or Scandinavia. Moreover, it actively supports major mobile network operators in Poland, and more than ten operators abroad.

The actions undertaken by Grupa Ailleron is further development of the service and product part, as independent entities with clearly defined, individual operation strategies. Ailleron brand will be related to the development of product activities, which are currently focused within FinTech division. Software Mind, on the other hand, will develop service-related activities, covering the area developed by the Enterprise Services division. In the FinTech segment, Ailleron provides, among others, online and mobile banking systems, remote customer service channels with the use of video communication, offering latest technologies and solutions supporting the sale of financial and leasing products.

Joint venture with EI will yield more efficient use of the Company’s potential, to further dynamically develop the Enterprise Services segment in the companies group activities, which will influence even better results, thanks to their consolidation at the Grupa Ailleron level.

For many years, the Enterprise Services area has been experiencing a dynamic organic growth, through the development of cooperation with present business partners and acquisition of new customers. Over the last 2.5 years, we have doubled the scale of activities in this field. I am convinced that the funds we have acquired will enable further, dynamic development on strategic markets thanks to acquisitions and organic growth.  A long-term goal is to build a leading Group on the Polish software house market, to be a leader in selected specialisations and achieve much larger scale of activities. Ailleron will actively support the development of this part of the business. It will also provide back-office service, until full independence is achieved”  – said Rafał Styczeń, President of the Board of Ailleron“Funds acquired by Ailleron will let the Company develop and implement its strategy in the FinTech segment area, within the currently existing product lines, as well as thanks to acquisitions broadening the present offer of the company, especially in the field of remote customer service channels, which currently demonstrate increased interest in the Company’s solutions, perfectly resonating with the ongoing digital transformation– he added.

 

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