Avanquest signs firm agreement to acquire German software publisher, PDF forge

  • Purchase price for this acquisition of €24.5m, of which €19m payable one year after the closing date

  • Closing date expected no later than June 15, 2022

  • Acquisition fully paid in cash

PARIS, April 04, 2022–(BUSINESS WIRE)–Regulatory news:

Claranova (Paris:CLA) announces today that its Avanquest division has entered into a firm agreement with the German company pdfforge GmbH (“PDF forge”) to acquire all of its share capital (the “Acquisition”) for a purchase price of €24.5m. Fully financed in cash, the Acquisition provides for an initial payment of €19m on the closing date and €5.5m at the end of the first anniversary year.

With this latest acquisition, Avanquest reaffirms its ambition to establish itself as Adobe Acrobat’s main competitor in the PDF document management software segment.

Soda PDF, Avanquest’s flagship PDF software solution, continues to demonstrate its future growth potential, as evidenced by its 33% increase in revenue in H1 2021-20221. This performance is driven by the success of its customer acquisition campaigns as well as the strength of its recurring revenue model, which accounted for 83% of Avanquest’s total PDF segment sales in H1 2021-2022.1.

Downloaded over 50 million times over the past three years and sold in over 180 countries, PDFCreator, marketed by PDF forge, offers advanced PDF document creation features and options for the B2B segment.2.

The integration of PDF forge into Avanquest’s PDF solutions portfolio will further expand the division’s business solutions offering while accelerating recurring revenue growth. With 85% of sales in the form of subscriptions, PDF forge products also enjoy considerable popularity among their users, evidenced by a renewal rate of over 80%.

PDF forge is also a historical partner of Avanquest, who have been doing business together for ten years. The PDF Architect software, the second PDF application marketed by the company, is in fact a white label version of Avanquest’s Soda PDF solution.

The company’s two co-founders and sole shareholders, Mr. Philip Chinery and Mr. Frank Heindörfer, will continue to manage the PDF forge business within the Avanquest division to ensure its successful integration and development. continued.

The closing date of this acquisition is scheduled for June 15, 2022 at the latest, subject to the fulfillment of the usual conditions precedent.

Philip Chinery and Frank Heindörfer, co-founders and executive directors of PDF forge commented: “This acquisition is the natural outcome of our close collaboration with Avanquest. Our complementary strengths and customers, as well as the common values ​​we share, were at the heart of our decision to join the division. We are very happy to be able to count on the support and expertise of the Avanquest teams to accelerate our growth.

Eric Gareau, CEO of Avanquest comments: “After working alongside Philip and Frank for many years, the business combination between PDF Forge and Avanquest seemed ideal to me. In addition to strengthening our enterprise offerings, this acquisition fits perfectly with our strategy to increase in the contribution of recurring revenue from our software We are convinced that the quality of PDF forge products and Avanquest’s digital marketing expertise represent a winning combination for the continued growth of our division and the achievement of our goal of establish itself as Adobe’s main competitor in the PDF segment.

Pierre Cesarini, Chairman and CEO of the Claranova Group, said: “After completing the transformation of Avanquest, which now combines strong growth in revenue and profitability, we are pursuing our acquisition strategy to consolidate Avanquest’s position as the world leader among SaaS software publishers. We are delighted to be able to welcome PDF forge which will strengthen our presence in the PDF space.”

Baker McKenzie, under the direction of Berthold Hummel, partner in the Munich office, acted as legal counsel for the acquisition of PDF Forge.

Financial calendar:
May 10, 2022: Q3 2021-2022 revenue

Telephone number for individual shareholders available from Tuesday to Thursday from 2 p.m. to 4 p.m. for calls in France: 0805 29 10 00 (local rate).

About Claranova:

A diversified global technology company, Claranova manages and coordinates a portfolio of majority stakes in digital companies with high growth potential. Relying on a team with several decades of experience in the world of technology, Claranova has acquired unique know-how to successfully turn around, create and develop innovative companies.

With average annual growth of more than 40% over the past three years and revenue of €472 million for fiscal year 2020-2021, Claranova has proven its ability to turn a simple idea into a global success in just a few years. only. Present in 15 countries and supported by the technological expertise of nearly 800 employees in North America and Europe, Claranova is a truly international company, with 95% of its turnover coming from international markets.

Claranova’s portfolio of companies is organized into three unique technology platforms operating in all major digital sectors. Claranova also stands out for its technological expertise in personalized e-commerce, software publishing and the Internet of Things, through its three business divisions, PlanetArt, Avanquest and myDevices. These three technology platforms share a common vision: to empower people through innovation by providing simple and intuitive digital solutions that facilitate daily access to the best of technology.

For more information on the Claranova group:
https://www.claranova.com or https://twitter.com/claranova_group

CODES
Coded :
CLA
IS IN : FR0013426004
www.claranova.com

Warning:

All statements other than statements of historical facts included in this press release regarding future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. Forward-looking statements are subject to inherent risks and uncertainties beyond the control of the Company that could cause the actual results or performance of the Company to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

1 Data from management reporting.
2 Business to business.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220404005901/en/

contacts

ANALYSTS – INVESTORS
+33 1 41 27 19 74
[email protected]

FINANCIAL COMMUNICATION
+33 1 75 77 54 65
[email protected]