Investment company Riverdam, together with management and employees, acquires Hightech ICT and Divverence from founder Stefan van de Kuilen. Hogenhouck m&a accompanied the founders of Hightech ICT and Divverence in this transaction.
Specialist in high-tech sectors
Founded in 2007 and 2015, Den Bosch-based Hightech ICT and Divverence are specialists in software development and consultancy, respectively. The companies target large and medium-sized companies in high-tech sectors such as digital video, supply chain, healthcare, technical automation and automotive. The companies operate as two independent labels, but are centrally organized as HTI Group.
Dutch companies leader in use of digital technologies
Investment company Riverdam takes its first steps in the custom software development market with the acquisition. Manuel Leussink, co-founder and partner of Riverdam explains the opportunities they see: "The Dutch IT market is the third 'Mainport' of the Netherlands.We foresee a further acceleration of growth in the coming years due to the further digital transformation in which Dutch entrepreneurs score far above the European average. The demand for custom software development is therefore increasing enormously."
Software development market is highly fragmented
Despite this continued digital transformation, the Dutch landscape of custom software development is highly fragmented. Most players in the market are generic software developers with no clear vertical or solution focus. High-tech ICT and Divverence distinguish themselves in this market through a strong vertical focus, combined with specific domain knowledge and high-quality personnel.
Custom software for high-tech customer segments
Hightech ICT is an independent provider for (custom) software development and consultancy in digital video and supply chain and works for TomTom, SPS, ASML, Philips and other renowned companies. Founded in 2015, Divverence specializes in digital television and software solutions for Liberty Global, Telenet, Tele2, KPN and Vodafone, among others.
Director Edwin van Meeuwen of Hightech ICT on the acquisition: "With this capital injection and participation by management and employees, we as Hightech ICT and Divverence can strengthen our market position and accelerate growth. We want to help even more large and medium-sized companies in the Netherlands with advanced software solutions that give them a competitive advantage. We do not rule out further acquisitions in this regard".
Strong partner for continued growth
Iris van Weel, director Hogenhouck m&a on this transaction: "As a four-member management team, Stefan van de Kuilen, Edwin van Meeuwen, Bart de Boer and Rob Janssen have grown the company in recent years into a high-quality specialist in software development. This transaction offers Stefan as 'founding father' the opportunity to pursue other ambitions and gives the Edwin, Bart and Rob a strong partner to further grow HTI in the coming years."
