Vencora intends to acquire CREALOGIX for CHF 84 million

Vencora UK Limited offers CHF 60 per share of CREALOGIX Holding AG, representing an aggregate equity value for CREALOGIX of CHF 84.3 Mio. The tender offer is unanimously recommended by CREALOGIX’s board of directors, and certain CREALOGIX shareholders holding in aggregate 51.66% have agreed to concurrently sell their shares in CREALOGIX to Vencora. Vencora intends that CREALOGIX will delist its shares following the acquisition.

Vencora acquires, strengthens and grows vertical market technology companies in the banking, insurance and financial services sector. Vencora has a presence in 70 geographies with 15 collaborative brands, 1,300+ employees and 1,800+ clients across banking and insurance industries.

CREALOGIX specializes in digital banking and wealth management solutions. Total sales for the financial year 2022/23 amounted to CHF 81.4 million. EBITDA improved by CHF 18.2 million year over year and amounts to CHF 8.9 million. CREALOGIX reported a positive, adjusted earnings per share of CHF 3.22. For the financial year 2023/24 CREALOGIX expects a moderate revenue growth in local currencies and further improving operating profitability. 

According to a press release, CREALOGIX’s vertical market software specialisation with international distribution and a successful track record of acquisitions makes it a good fit with Vencora. Vencora’s decentralized business model offers vertical market software companies the ability to maintain their independence, which allows them to focus on the needs of customers and employees post-acquisition. The business continuity and quality of the company’s services are preserved, and customer confidence is strengthened.

(Press release / SK)