Cegid, a European leader in cloud business management solutions, has announced the acquisition of sevdesk, a German company specializing in accounting software, electronic invoicing, and tax management for SMEs and microenterprises. This strategic move marks a milestone in Cegid’s expansion in the Germany, Austria, and Switzerland (DACH) region, consolidating its position in the cloud software segment and strengthening its focus on the digitalization of small and medium-sized enterprises.
A decisive step towards European expansion
Founded in 2013 and headquartered in Offenburg, Germany, sevdesk has grown to become a leading provider of business management solutions in the DACH region. With over 130,000 customers and a track record of 85 billion euros in managed transactions, sevdesk offers innovative and user-friendly tools that meet the needs of SMEs in the midst of digital transformation. This growth has been driven by its focus on data security, regulatory compliance, and usability, qualities that now enhance Cegid’s offering.
According to Pascal Houillon, CEO of Cegid, the integration of sevdesk is a natural step in their expansion strategy: “Sevdesk provides a state-of-the-art software platform that will allow Cegid to lead the business management segment for SMEs in Europe. In a context of increasing digitalization, especially with the impending requirement for electronic invoicing in Germany, this acquisition positions us as a key partner for businesses in this region.”
Impact on the DACH market
The acquisition of sevdesk comes at a pivotal moment, as Germany, Austria, and Switzerland face regulatory reforms that will require businesses to implement electronic invoicing solutions starting in 2025. This regulatory shift has generated a growing demand for digital tools that simplify and optimize tax and accounting processes.
Marco Reinbold, co-founder and CEO of sevdesk, will continue to lead the company as general manager of Cegid in the DACH region. He will also take on strategic responsibilities to expand the software segment for SMEs at the European level. According to Reinbold: “Joining Cegid gives us the opportunity to combine our technological strengths with the expertise of a European leader in cloud solutions. This will enable us to offer a unique and highly competitive platform for the digitalization of SMEs in the DACH region and beyond.”
Benefits for both companies
The acquisition not only strengthens Cegid’s presence in a key market but also opens new opportunities for sevdesk by integrating into an organization with a strong international position. Key benefits include:
- Market expansion: Sevdesk will be able to access Cegid’s existing customers in Europe and offer its solutions in new markets.
- Technological scalability: The integration will allow sevdesk to enhance its offering through the adoption of advanced Cegid technologies, such as artificial intelligence and automation.
- Global ecosystem: Sevdesk will contribute its expertise in the German market, complementing Cegid’s solutions in other European regions, such as Iberia and France.
Cegid’s pan-European growth
Cegid continues to establish itself as a pan-European leader in business management solutions. In 2023, the company generated annual revenues of 852 million euros and served 750,000 customers in over 130 countries. With this acquisition, Cegid reinforces its commitment to supporting the digitalization of SMEs in a constantly evolving business world.
Moreover, this transaction highlights the backing of Silver Lake, Cegid’s main investor, to accelerate the company’s international growth. Christian Lucas, managing partner at Silver Lake, remarked: “The DACH region represents one of the greatest growth opportunities in Europe. With the acquisition of sevdesk, Cegid is better positioned to lead the digitalization of SMEs in this strategic region.”
Future outlook
The transaction is expected to close in the first quarter of 2025, pending regulatory approval and the required consultation processes. With this union, Cegid and sevdesk are poised to lead the digital transformation of SMEs in Europe, helping businesses comply with new regulations and optimize their operations in an increasingly competitive digital landscape.
About sevdesk: Since 2013, sevdesk has simplified accounting and tax management for SMEs in the DACH region through innovative cloud solutions. With over 230 employees, the company focuses on automation, data security, and ease of use.
About Cegid: Based in France and with a strong presence in Iberia, Cegid is a leader in cloud business management solutions. Its mission is to support companies of all sizes in their digital transformation, offering innovative solutions that integrate the latest technologies and comply with international regulations.
via: cegid