Investment company Riverdam, along with management and employees, is acquiring Hightech ICT and Divverence from founder Stefan van de Kuilen. Hogenhouck m&a assisted the founders of Hightech ICT and Divverence in this transaction.
Specialist in high-tech sectors
High-tech ICT and Divverence were founded in 2007 and 2015 in Den Bosch and are specialists in software development and consultancy respectively. The companies focus on 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 are leaders in the use of digital technologies
With the acquisition, investment company Riverdam is taking its first steps in the market for custom software development. Manuel Leussink, co-founder and partner of Riverdam explains what opportunities they see: “The Dutch IT market is the third ‘Mainport’ of the Netherlands. We foresee further growth acceleration in the coming years due to the further digital transformation in which Dutch entrepreneurs far exceed the European average score. The demand for custom software development is therefore increasing enormously.”
Software development market is highly fragmented
Despite the rapid digital transformation, the Dutch custom software development landscape is highly fragmented. Most players in the market are generic software developers without a 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 supplier of (customized) 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 of Hightech ICT Edwin van Meeuwen about the takeover: “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.”
Strong partner for further growth
Maarten van der Heijden, Associate at Hogenhouck m&a on this transaction: “As a four-person management team, Stefan van de Kuilen, Edwin van Meeuwen, Bart de Boer and Rob Janssen have grown the company in into a high-quality specialist in the field of software development in recent years. As the founding father, this transaction offers Stefan the opportunity to pursue other ambitions and gives Edwin, Bart and Rob a strong partner to help HTI grow further in the coming years.”