EQS-News

'The Year of Whistleblowing': EQS Group continues growth track in the financial year 2023 - Seite 2

 

"After the implementation of the EU Directive was delayed by 18 months, we were finally able to ring in the year of whistleblowing in 2023," explains Achim Weick, founder and CEO of EQS Group. "We are proud to say that we have acquired more than 3,300 new customers within a very short period of time – an outstanding achievement in the B2B SaaS industry. We expect this trend to continue as regulation in Europe progresses. The high level of interest in our Compliance COCKPIT shows that companies need modern digital solutions for increasing regulatory requirements."

 

With the integration of the Integrity Line whistleblowing solution into the EQS Compliance COCKPIT platform and the addition of further modules to the platform, EQS Group provides a comprehensive compliance management system that enables companies to fulfill existing requirements and be optimally prepared for future laws and guidelines.

 

"We appreciate the trust placed in us by companies that choose our solutions. We work continuously on identifying their most important needs and requirements, and addressing them as quickly as possible. We also invest heavily in IT security, as we are aware that our customers entrust us with highly sensitive data - from insider information to misconduct within their own organization."

 

Revenue in the Investor Relations segment also increased in FY 2023, rising by 3 percent to EUR 19.63 million (previous year: EUR 19.12 million). Cloud products revenue increased by 8 percent due to subscription revenue from IR COCKPIT. The discontinuation of business activities in Russia led to a 3 percent decrease in revenue in the Cloud Services segment. 

 

 

 

 

Strategic partnership with Thoma Bravo ensures long-term growth

 

On 16 November 2023, EQS Group signed an investor agreement with Thoma Bravo, a leading software investment company. The takeover offer to shareholders was accepted on 2 February 2024 with a large majority of 97.5 percent.

 

"In order to grow even faster and more profitably, we decided last year to start conversations with private equity investors. It quickly became clear that Thoma Bravo was the right partner for us, who could not only support us with capital, more importantly with many years of experience in the software business, outstanding expertise, and a wealth of industry data. We are now ready to take the next step in our growth story and establish EQS COCKPIT as the leading compliance management system in Europe," says Achim Weick.