CEGID
24.4.2024 15:37:29 CEST | Business Wire | Press release
Cegid, a European leader in cloud business management solutions for finance (treasury, tax, ERP), human resources (payroll, talent management), CPAs, retail and entrepreneurial sectors, strengthens its position in the fast-growing sector of invoicing and accounting software solutions for the Micro and SMB segments through the potential acquisition of EBP, one of the leading enterprise software providers in this market segment. Following Cegid’s investments in Iberia and Belgium, this major step will allow the new Cegid Group to become the leader in this high-growth market segment ahead of the implementation of mandatory e-invoicing.
EBP, established as one of the leading solutions providers in France known for its long-standing expertise in working with Micro and SMB businesses, its user-centered approach and its distinctive know-how, has been serving its customer base of 275,000 companies using its solutions in France for close to 40 years.
The acquisition of EBP represents a major strategic milestone for Cegid, enabling Cegid to extend its offering with a range of invoicing, business management and accounting software tailored to meet the needs of Micro and SMB businesses in France, including in specific verticals such as construction and automotive. With its existing footprint in Iberia and Belgium, this opportunity also allows Cegid to strengthen its European leadership with this new position in the French market.
“With the acquisition of EBP, we are accelerating our European strategy in serving small businesses, one of Cegid’s five priority markets. By combining our two companies, EBP and Cegid, we become a leader with annual revenue close to one billion euros and serving close to 750,000 customers. Our shared vision, the strength of our two brands, the performance of the combined product portfolio, our innovation in emerging technologies such as artificial intelligence, our culture centered around co-creation and entrepreneurship, and the talent within our teams create a unique opportunity. Through this collaboration, we will meet the needs of small businesses directly or through the network of 440 partners built by EBP; most importantly, we will enable chartered accountants to strengthen their strategic position with French Micro and SMB businesses by offering them a wide range of innovative and purposeful business solutions. Cegid will thus become the software provider of choice for Micro and SMBs, supporting the digitalisation of the economy by facilitating compliance in a changing regulatory landscape including the advent of mandatory electronic invoicing, and ultimately enabling their growth through solutions that are unique in the market,” said Pascal Houillon, CEO of Cegid.
With a track-record of sustained growth, EBP will find in Cegid and its majority shareholder Silver Lake a major ally to finance and structure its next phase of expansion, notably accelerating the transition to SaaS and the integration of generative artificial intelligence technology to better serve current and future clients.
“As a shareholder, Silver Lake is very pleased to continue promoting Cegid’s development. The growth potential of the small business software market is significant in Europe as a whole, and particularly in France where the introduction of electronic invoicing for all businesses is imminent. With the addition of EBP, we are accelerating Cegid's strategy in the Micro and SMB markets across the continent while starting a new phase of sustainable growth over the next decade. The quality of EBP's solutions combined with Cegid's footprint among chartered accountants make for a perfect combination in this high-potential market,” said Christian Lucas, Managing Partner of Silver Lake and Vice-Chairman of Cegid Group’s Board of Directors.
Founder René Sentis, Deputy Chief Executive Officer Grégoire Leclercq and his management team as well as EBP's 650 employees will join Cegid in the coming weeks.
“The timing of this combination could not be better for EBP's development. With nearly 40 years of significant growth, and now more motivated than ever to support our customers in their digital transformation journey and to prepare for the upcoming e-invoicing regulation, we are thrilled to be joining forces with Cegid. The company's strength, its expertise in cloud technologies, its recent announcements around offering a free PDP solution and the Cegid Business solution as part of the e-invoicing, as well as its investments in artificial intelligence will all be instrumental for EBP. Synergies resulting from this combination are evident with respect to both our product portfolios and Cegid’s footprint with CPAs, as well as financing solutions that we can offer to our clients – our conviction in this partnership is unwavering, and we are committed to reinvesting significantly in this combined group. Additionally, this is a great opportunity to accelerate the development of EBP’s recently launched Hubbix platform. With Cegid, we are proud to embark on this exciting journey to better serve our clients and conquer new markets together,” concludes René Sentis, Founder & CEO of EBP.
As is customary, the transaction remains subject to the approval of relevant regulatory authorities and to the information and consultation processes of representative bodies of staff concerned, in accordance with applicable laws.
More information:
About Cegid
Cegid is a European leader in cloud business management solutions for finance (cash-flow, tax, ERP), human resources (payroll, talent management), CPAs, retail and entrepreneurial sectors. With a solid full cloud business model, Cegid provides long-term commitment to its customers, superior and distinctive experiences and helps companies of all sizes accelerate their digital business transformation, locally and worldwide. Cegid combines a forward-thinking and pragmatic approach of the business with strong capacity to innovate, an in-depth expertise in new technologies such as artificial intelligence and an understanding of regulations and compliance. In today’s rapidly changing world, Cegid makes more possible by helping customers unleash their potential thanks to innovative and purposeful business solutions.
Bolstered by its strong international ambition and reach, and its 500,000 customers, Cegid has 4,400 employees and sells its solutions in 130 countries. Cegid reported revenues of €852 million (as of December 31 2023). Pascal Houillon has been the CEO since March 2017.
For more information: www.cegid.com/en/
About EBP
For 40 years, EBP supports the success and longevity of 275 000 Micro and SMBs, maintaining relationships founded on trust. The company offers solutions across France, Spain, Switzerland, Morocco and Ivory Coast, leveraging its extensive portfolio of innovative accounting, business management, HCM and CRM products tailored to SMBs, freelancers, retailers and independent professionals.
More information: EBP • Logiciels et solutions de gestion et de comptabilité and social networks
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