Swedish Formpipe acquires Danish Traen for €34M
The Danish software house Traen now becomes a pure Swedish affair. The parties yesterday announced that a takeover is successfully completed at a price of DKK 252M (€34M).
Buyer is the listed Swedish software company FormPipe.
Traen develops software for electronic document and records management (ESDH), digital self-service solutions and archiving.
The company achieved in fiscal year 2011 earnings before interest, depreciation and amortization (EBITDA) of 37.8M compared to DKK 32.9M the previous year. Turnover in 2011 was DKK 155.2M compared to DKK 154.8M the year before. This represents a 6% growth in the company’s strategic focus areas, which now represents 97% of revenue. The result corresponds to an EBITDA margin of 24%, which is among the best in the market.
“The result is very satisfactory. Not least because the positive economic development go hand in hand with improvements inour customer satisfaction and employee engagement. Traen is today stronger than ever as a provider of user-friendly and efficient digital solutions for the public sector,” says CEO Jacob H. Kraglund. “Through the integration with FormPipe TRAIN gets an even stronger portfolio of products and services, a stronger financial position and improved investment capabilities. We now have even better opportunities for growing both locally and internationally. It’s really good prospects for both our customers, employees and investors. “
Traen was founded in 1998 and is serving more than 20 ministries and government agencies as well as 40 municipalities and regions with digital solutions. Traen solutions are used by approx. 50,000 employees in the public sector. Public Internet base self-service solutions provided by Traen are being used by 500,000 citizens and businesses processing approx. 20 billion DKK in annual government subsidies.
DKA Capital has been remunerated its initial investment in the company about five times, and it indicates itself, having a turnover of 177 million. last year.
Swedish FormPipe was until now a competitor to Traen.