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Euronext acquires remaining interest in iBabs

Nachrichtenquelle: globenewswire
03.03.2021, 17:45  |  127   |   |   

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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.”

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Euronext acquires remaining interest in iBabs CONTACT - Media: CONTACT - Investor Relations:Amsterdam+31 20 721 4133Brussels+32 2 620 15 50+33 1 70 48 24 27 Dublin (interim)+31 20 721 4133Lisbon+351 210 600 614  Oslo+47 22 34 17 40Paris+33 1 70 48 24 45    EURONEXT ACQUIRES REMAINING INTEREST …

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