EQT VII enters into partnership with founder group to acquire Sitecore, the global leading provider of customer experience management software
- EQT VII to acquire a majority stake in Sitecore, the Denmark-based global leading provider of customer experience management software
- EQT VII is entering into a partnership with the founders who will maintain a significant equity stake in Sitecore
- EQT VII will support the management team in further driving product innovation and expanding its offering across the digital marketing space
EQT VII (”EQT“) has entered into an agreement to acquire a majority stake in Sitecore A/S (”Sitecore“ or the ”Company“) from its founders, Technology Crossover Ventures and other minority shareholders in a transaction valuing the Company at approximately EUR 1 billion. EQT is excited about the opportunity to drive Sitecore’s future growth in close partnership with the founders who will maintain a significant equity stake in the Company.
Founded in 2001, Sitecore has emerged to become one of the global leaders of customer experience management software. The Company has continuously innovated its product offering and has expanded from pure web content management software to customer experience management software. Sitecore is providing a compelling product offering at the core of the broader digital marketing software market which is expected to experience continued attractive growth.
Following continued strong growth of more than 30% p.a. in recent years, Sitecore generates revenues of around EUR 200 million at an EBITDA margin of approximately 25%. The Company has close to 800 employees across Europe, North America and Asia Pacific.
“The partnership and acquisition announced today by EQT and Sitecore is specifically designed to sustain Sitecore’s profitable growth and scale as the Company continues to expand at a rapid double-digit pace,” said Michael Seifert, CEO and co-founder of Sitecore. “We are excited that a world class investor such as EQT will become a critical part of Sitecore’s future growth. With EQT and founders as well as management of Sitecore joining forces, we are convinced that the Company is set up for continued success in the years to come.”
“For several years, we have been following Sitecore given its leading market position, its strong technology offering and its impressive growth story,” said Morten Hummelmose, Partner and Head of Denmark at EQT Partners, Investment Advisor to EQT. “In close cooperation with management, we want to help Sitecore continue to drive product innovation and expand further into the digital marketing software space. We are convinced that EQT’s industrial network and resources can support Sitecore to capture its full potential,” added Dominik Stein, Partner and Head of Technology, Media and Telecom (“TMT”) at EQT Partners, Investment Advisor to EQT.
Danica and Sampension, investors in EQT, will co-invest in Sitecore alongside EQT.
The transaction is subject to approval by relevant regulatory authorities and is expected to close in Q2 2016.
Contacts:
Dominik Stein, Partner and Head of TMT at EQT Partners, Investment Advisor to EQT,
+49 89 2554 9936
Morten Hummelmose, Partner and Head of Denmark at EQT Partners, Investment Advisor to EQT, +45 33 18 12 46
Kerstin Danasten, EQT Press Contact, +46 8 506 55 334
About EQT
EQT is a leading global private equity group with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information, please visit www.eqtgroup.com
About Sitecore
Sitecore is the global leader in experience management software that enables context marketing. The Sitecore® Experience Platform™ manages content, supplies contextual intelligence, and automates communications, at scale. It empowers marketers to deliver content in context of how customers have engaged with their brand, across every channel, in real time. More than 4,600 customers – including American Express, Carnival Cruise Lines, easyJet, and L'Oréal – trust Sitecore for context marketing to deliver the personalized interactions that delight audiences, build loyalty, and drive revenue.
For more information, follow us at @sitecore or visit www.sitecore.net.