07 Apr 2021
Software Mind accelerates its growth with investment in ValueLogic
We are pleased to inform you about the acceleration of our growth through the acquisition of a majority stake in the Wrocław-based software house ValueLogic. The purpose of the transaction is to strengthen Software Mind group presence on the DACH (Germany, Austria and Switzerland) region, and to build a strong position on the global e-commerce market.
The preliminary share purchase agreement was signed on 6 April 2021. As a result Software Mind acquired a majority stake in ValueLogic. It is the first such transaction carried out by the company after teaming up with the Enterprise Investors fund. It is part of the planned strategy aimed at building a leading European IT service provider. The strategy assumes combining dynamic organic growth with further acquisitions both in Europe and on other continents.
Value Logic has been on the market for several years and is focused on providing solutions to dozens of reputable customers in Western Europe, including brands like Immobilien Scout, Tier and Zalando. The company helps to build a market edge for its customers by supporting them in digital transformation, developing custom software, and creating artificial intelligence solutions using cloud infrastructure. A carefully selected range of services, combination of e-commerce expertise with years of experience in building high-tech products is what allows ValueLogic’s 80+ person team to implement innovative projects and grow dynamically.
“We are happy to have an excellent team joining Software Mind. The investment in ValueLogic is afollowing step in the implementation of our strategy aimed at building a global software group. The expertise and experience of ValueLogic’s specialists provide us with a unique opportunity to broaden our offer in the area of e-commerce and to step up our presence in the DACH region. Revenues of the company come entirely from foreign sales, with a particular role played by Austria and Germany, where ValueLogic’s office is located. This investment also gives us the opportunity to enter the Wrocław agglomerations’ market of IT specialists and thus increase our ability to reach the best talents in Poland,” said Grzegorz Młynarczyk, Chairman of the Management Board of Software Mind.
“We focus on providing our customers with the highest possible value, and for some time we have been wondering how to expand the scope of our activities. We like the vision of building an IT leader with Polish roots. We believe that thanks to the investment made by Software Mind, we can really stand out on the market. We are joining a strong partner, with whom we will not only develop our team but also have the opportunity to participate in larger innovative projects carried out for the best brands in the world,” said Krzysztof Litwin, Chairman of the Management Board of ValueLogic.
The management team and of ValueLogic will maintain operational control over the company to deliver even greater value to customers in cooperation with Software Mind