AXA Private Equity acquires EUR 3 million stake In Ivalua
Mountain View,CA – May 4th, 2011 – Ivalua announced today that AXA Private Equity has acquired a minority stake in the company. With this EUR 3 million investment, AXA Private Equity aims to accelerate the company’s international growth, particularly in the United States, and to consolidate its Software as a Service (Saas) offer for the SME market. SaaS is a software delivery method that provides access to software and its functions remotely as a Web-based service.
Laurent Foata, Head of Innovation and Growth at AXA Private Equity, said: “The combination of the ambition of Ivalua’s international management and its innovative product base define Ivalua as a compelling venture investment opportunity for AXA Private Equity.”
David Khuat-Duy, director and founder of Ivalua said: “We quickly came to an agreement with AXA Private Equity as the firm’s experience in the software field proved to be decisive. AXA Private Equity’s stake will help boost our international development, and also our ability to offer innovative and effective solutions to the e-buying market via our R&D teams.”
Created in 2000, Ivalua is one of the leading European publishers in the e-buying solutions market, thanks to its Ivalua Buyer software package. The solution’s main asset is the comprehensive integration of all the functional modules within a single solution which can interface with the company’s other information systems. Available in SaaS and licence mode, the software package offers 22 integrated modules covering most purchasing department requirements: performance management, e-sourcing, e-procurement, management of supplier relations and risks. Owned until now by its founders, the company currently has 64 employees.
The Ivalua Indicia product is a leader in sustainable development with its data analysis and reporting solution.
With offices in France, Germany and the United States, Ivalua is self-financed and has rolled out more than 80 systems within large international companies, including Areva, ArcelorMittal, PSA, Faurecia and LVMH to name a few. The company currently has over 50 blue-chip clients.