Euronext acquires remaining interest in iBabs
March 03 2021 - 11:45AM
Euronext acquires remaining interest in iBabs
CONTACT - Media: |
CONTACT - Investor Relations: |
Amsterdam |
+31 20 721
4133 |
Brussels |
+32 2 620 15
50 |
+33 1 70 48 24
27 |
|
Dublin
(interim) |
+31 20 721
4133 |
Lisbon |
+351 210 600
614 |
|
|
Oslo |
+47 22 34 17
40 |
Paris |
+33 1 70 48 24
45 |
|
|
EURONEXT ACQUIRES REMAINING INTEREST IN
IBABS
ACQUISITION OF THE REMAINING 40%
INTEREST OF THE FAST-GROWING, INNOVATIVE BOARD PORTAL
PLATFORM
Amsterdam, Brussels, Dublin, Lisbon,
Oslo and Paris – 3 March 2021 – 17.45
CET – Euronext, the leading pan-European market
infrastructure, today announced the acquisition of the remaining
40% interest in iBabs, a leading provider of dematerialised and
secured board portal solutions for corporate and public
organisations in Europe, held by the founders of the company who
are now exiting the business after a successful transition period.
As detailed at the time of Euronext’s acquisition of iBabs in July
2017, Euronext has exercised its call option on the remaining
interest of iBabs for a consideration of €53.2 million1, on a
debt-free-cash-free basis, representing an Adjusted EBITDA 2020
multiple of 10x.
Since Euronext’s acquisition of a 60% stake in
July 2017, iBabs has been a major contributor to Euronext Corporate
Services performance. iBabs has reported high double-digit revenue
growth every year, with compound annual growth rate of +33% between
2017 and 2020, while remaining cost-efficient and demonstrating the
scalability of its SaaS model. Through its integration into
Euronext Corporate Services, iBabs has expanded its footprint in
Europe and doubled its number of clients and number of users,
reflecting increasing needs for digital solutions, secured meeting
management and continued product innovation.
Stéphane Boujnah, Chief Executive Officer and
Chairman of the Managing Board of Euronext, said:
“iBabs has been a continued driver of Euronext
Corporate Services expansion over the last few years. Since our
acquisition of the 60% stake in July 2017, iBabs has continued to
develop its product offering while expanding its client base and
geographic footprint. With iBabs, Euronext Corporate Service has
positioned itself as a digital solutions provider both for public
and private companies all across Europe thanks to its complete
suite of services spanning from Governance, to Compliance,
Communication and Investor Relations. Now that all Corporate
Services entities are fully owned, Euronext has the ambition to
continue to grow through a combination of geographic expansion and
product innovation.”
Contacts
Investor Relations:Aurélie
Cohen – Chief Communications and IR OfficerClément Kubiak – IR
Officer
+33 1 70 48 24 27; ir@euronext.com
Media:Aurélie Cohen - Chief
Communications and IR Officer
+33 1 70 48 24 45; mediateam@euronext.com
About Euronext
Euronext is the leading pan-European market
infrastructure, connecting local economies to global capital
markets, to accelerate innovation and sustainable growth. It
operates regulated exchanges in Belgium, France, Ireland, The
Netherlands, Norway and Portugal. With close to 1,500 listed
issuers worth €4.5 trillion in market capitalisation as of end
December 2020, it has an unmatched blue chip franchise and a strong
diverse domestic and international client base. Euronext operates
regulated and transparent equity and derivatives markets and is the
largest centre for debt and funds listings in the world. Its total
product offering includes Equities, FX, Exchange Traded Funds,
Warrants & Certificates, Bonds, Derivatives, Commodities and
Indices. Euronext also leverages its expertise in running markets
by providing technology and managed services to third parties. In
addition to its main regulated market, it also operates Euronext
Growth® and Euronext Access®, simplifying access to listing for
SMEs. Euronext provides custody and settlement services through
central securities depositories in Denmark, Norway and Portugal.
For the latest news, follow us on Twitter and LinkedIn.
Disclaimer
This press release is for information purposes
only: it is not a recommendation to engage in investment activities
and is provided “as is”, without representation or warranty of any
kind. While all reasonable care has been taken to ensure the
accuracy of the content, Euronext does not guarantee its accuracy
or completeness. Euronext will not be held liable for any loss or
damages of any nature ensuing from using, trusting or acting on
information provided. No information set out or referred to in this
publication may be regarded as creating any right or obligation.
The creation of rights and obligations in respect of financial
products that are traded on the exchanges operated by Euronext’s
subsidiaries shall depend solely on the applicable rules of the
market operator. All proprietary rights and interest in or
connected with this publication shall vest in Euronext. This press
release speaks only as of this date. Euronext refers to Euronext
N.V. and its affiliates. Information regarding trademarks and
intellectual property rights of Euronext is available
at:www.euronext.com/terms-use. © 2021, Euronext N.V. - All rights
reserved.The Euronext Group processes your personal data in order
to provide you with information about Euronext (the "Purpose").
With regard to the processing of these personal data, Euronext will
comply with its obligations under the Regulation (EU) 2016/679 of
the European Parliament and of the Council of 27 April 2016
(General Data Protection Regulation, “GDPR”), and any applicable
national laws, rules and regulations implementing the GDPR as
provided in its privacy statement available at:
https://www.euronext.com/privacy-policy.In accordance with the
applicable legislation you have rights as regard to the processing
of your personal data:
- for more information on your rights, please refer to:
www.euronext.com/data_subjects_rights_request_information,
- for any request regarding the processing of your data or if you
want to unsubscribe from this press release, please use our data
subject request form at
https://connect2.euronext.com/form/data-subjects-rights-request or
email our Data Protection Officer at dpo@euronext.com.
1 Enterprise value excluding pro rata share of normalized
cash
Euronext NV (EU:ENX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Euronext NV (EU:ENX)
Historical Stock Chart
From Jul 2023 to Jul 2024