XAnge increases investment in Sidetrade, European leader in SaaS credit management
Boulogne-Billancourt, May 17th, 2010
XAnge Private Equity (LA POSTE Group) has strengthened its position in Sidetrade shares by acquiring 6.46% of its stake. XAnge Private Equity has acted on behalf of La Banque Postale funds Innovation 4 and Innovation 6 which it manages.
Consequently, XAnge Private Equity now owns 269,631 Sidetrade shares representing 20.48% of the capital.
François Cavalié, Managing Director of XAnge Private Equity said:
"We have great confidence in the development of Sidetrade. After analyzing the market, we know that Sidetrade is today the European leader in Credit Management solutions with a growth potential through its business model, the 'Cloud Computing'. Mastering the working capital is a concern for all large and medium companies. The Sidetrade Group is ideally positioned with a solution that proves its return on investment. Since five years, we believe in the value and we continue to believe."
Backed by leading European companies and financial institutions, XAnge is a unique private equity firm with €350 million in assets under management. XAnge was first launched in 2003 through the creation of XAnge Capital, a unique European venture capital firm that focuses on connectivity businesses and is sponsored by Groupe La Poste. XAnge Private Equity - an investment firm created by La Banque Postale - ABN AMRO and management, has since developed a broader range of competencies from venture capital to growth/transfer capital. As an active minority shareholder, XAnge supports growth companies. XAnge has deliberately positioned itself as a link between large corporations and small and medium-sized businesses, to which it offers its expertise and an industrial – as opposed to a merely financial – vision.
Early 2008, XAnge Private Equity established a branch in Munich (Germany) which received an advisory mandate to manage most of the IT technology portfolio of Deutsche Venture Capital (DVC), Deutsche Bank’s venture capital subsidiary. This new entity enables XAnge to continue its international expansion, and to pinpoint investment opportunities in Germany in the High Tech, Telecom and Cleantech sectors.
Independent group listed on NYSE Euronext (ticker: ALBFR), Sidetrade Group is the European leader in SaaS (Software as a Service) solutions for Credit Management. Sidetrade’s solutions to reduce DSO and Bad Debts are used by over 200 medium and large enterprises in Europe. One click conversion from bad debt to cash generation.