EQT VI acquired software company Automic (formerly UC4 Software Group) in September 2012. The company had a unique technological platform implying significant growth potential. EQT and the industrial advisors saw big potential in realizing the identified growth potential by investing into and increasing the focus on the company’s sales and marketing function.
"We have had a busy year where the Board of Directors and industrial advisors have been very involved in setting the stage so Automic can reach its full potential. It has been a lot of very hands-on interaction, more than usual, and it is turning out very well", says Vagn Sørensen, Chairman of the Board and a member of EQT’s Industrial Network.
Alongside Vagn Sørensen, the Board was populated with expertise and experience to fully support Automic in its effort to take the business to the next level. Dr Henning Kagermann, the former CEO of SAP, Jonas Persson, CEO of Microsoft Sweden, and Richard Muirhead, serial software company entrepreneur, all contributed vital industrial competence, insight and networks.
"Their experience in software sales, the IT automation space and cloud services along with their networks have been pivotal for the company. Automic is a good example where we relatively quickly can make a significant difference. This is a classic case of making a good company great", says Per Franzén, member of the Board and Partner at investment advisor EQT Partners.
Automic is a leading, global independent provider of business automation through software solutions. This involves every aspect of a business to eliminate errors, ensure compliance, reduce costs and maintain services while providing a full dashboard for managers. Automic has around 2,500 clients and is headquartered in Wolfsgraben, Austria and Bellevue, US. Automic has annual sales of around USD 100 million and 360 employees.
Together with management, the Board has strengthened Automic's sales focus with heavy investments in up-grading and extending the sales force, especially in the important US market. The Board has introduced several new clients and sales leads through their networks and been involved in creating a marketing and product road map for Automic.
The recruitment of a Chief Marketing Officer and a Chief Sales Officer were also crucial to implement the outlined value creation plan and accelerate the development in which the Board took an active part.
"We interviewed and screened all the top candidates for these positions", says Vagn Sørensen.
Software, including automation, is quickly moving into the cloud and Automic along with it. Early 2014 the first cloud-based products will hit the market and the market potential is great.
"The cloud is an important part of the company's future and we have also refined and sharpened the company's vision and goals. We have laid the groundwork to make Automic the leading supplier in the automation sector and helped management to a mind-set that enables the company not only to grow and improve but to reach its full potential", Vagn Sørensen conlcudes.