CORRECTING and REPLACING

Avanquest Enters Into a Binding Agreement to Acquire the German Software Publisher, PDF forge - Seite 2

The company’s two co-founders and sole shareholders, Mr. Philip Chinery and Mr. Frank Heindörfer, will continue to manage the PDF forge business as part of the Avanquest division to ensure its successful integration and continuing development.

The closing date for this acquisition is expected to be no later than June 15, 2022, subject to the fulfillment of the usual conditions precedent.

Philip Chinery and Frank Heindörfer, PDF forge’s co-founders and executive directors commented: “This acquisition represents a natural outcome of our close collaboration with Avanquest. Our complementary strengths and customer bases, as well as the common values we share, were at the heart of our decision to join the division. We are very pleased to be able to count on the support and expertise of Avanquest's teams to accelerate our growth."

Eric Gareau, Avanquest CEO commented: "After working alongside Philip and Frank for many years, the business combination between PDF Forge and Avanquest seemed like an ideal fit. In addition to strengthening our enterprise offerings, this acquisition fits perfectly with our strategy of increasing the contribution of recurring revenue from our software businesses. We are convinced that the quality of PDF forge products and Avanquest's digital marketing expertise represents a winning combination for the continuing growth of our division and achieving our goal of establishing ourselves as Adobe's key competitor in the PDF segment.”

Pierre Cesarini, Chairman-CEO of Claranova Group, stated: “After completing Avanquest's transformation, which now combines strong revenue growth and profitability, we are continuing our acquisition strategy to establish Avanquest’s position as leading global SaaS software company. We are delighted to be able to welcome PDF forge that will strengthen our presence in the PDF space."

Baker McKenzie, under the direction of Berthold Hummel, partner of the Munich office, acted as legal advisors for the PDF Forge Acquisition.

Financial calendar:
May 10, 2022: Q3 2021-2022 revenue

Telephone number for individual shareholders available from Tuesday to Thursday between 2 p.m. and 4 p.m. for calls within France: 0805 29 10 00 (local rate).

About Claranova:

As a diversified global technology company, Claranova manages and coordinates a portfolio of majority interests in digital companies with strong growth potential. Supported by a team combining several decades of experience in the world of technology, Claranova has acquired a unique know-how in successfully turning around, creating and developing innovative companies.