Corum is very pleased to announce another successful transaction in the Nordics
Seattle, WA (PRWEB) October 13, 2011
Software mergers and acquisitions specialist Corum Group Ltd. today announced the planned acquisition of its Oslo-based client, Edvantage Group (“Edvantage”) by Lumesse, Europe’s leading talent management systems vendor. Edvantage is Europe’s leading supplier of cloud-based learning and performance solutions, and brings to Lumesse world-class capabilities in learning management, content development and delivery, and custom course development. The acquisition is of the whole of Edvantage group including its subsidiaries in Norway, Sweden, Denmark and the UK and is expected to close during October.
"We are very proud that we have been acquired by one of the world's most people-focused software companies,” explained Thomas Berglund, Edvantage’s Founder and CEO. Mr. Berglund will be responsible for the Global Learning business at Lumesse. “This acquisition secures a promising future for our customers, employees, partners and other stakeholders." Matthew Parker, CEO at Lumesse, added: "Edvantage Group has become recognized in the e-learning market for its strong client relationships, award-winning technologies, and talented employees."
“Corum is very pleased to announce another successful transaction in the Nordics,” said Miro Parizek, Managing Director of Corum Group International. “The Nordics are among the world’s most important Software, IT and Digital Media markets globally, and the region contains some of the most technologically advanced nations in the world. The acquisition of Edvantage will reinforce Lumesse’s position as the leader in their markets.”
Corum has recently hired a director based in Sweden to further solidify its position in the region. “Corum’s global presence, contacts to tech industry buyers, and extensive experience conducting cross border M&A’s ensured an optimal outcome for Edvantage,” explained Mark Johnson, Corum’s Senior Director in Stockholm. “Over the past decade, there have been some major exits coming from the Nordics, adding to the overall commercial expertise required to build and scale world class technology companies.” After advising on the sale of a Gothenburg based enterprise software company’s sale in Q2 to a US-based acquirer and now on the sale of Norwegian based Edvantage, Corum is actively preparing another Nordic software company (a Swedish based mobile application platform vendor) for their market entry this quarter; and will be presenting a series of M&A educational seminars throughout Scandinavia this autumn, including in Copenhagen on 20 October, and in Oslo on 23 November.
Miro Parizek, Managing Director of Corum Group International, advised Edvantage Group on their planned acquisition by Lumesse.
About Corum Group Ltd.
Based in Seattle, Corum Group Ltd. has offices across Europe and the Americas, has been the global leader for software M&A for the last 25 years. The firm has completed over 270 software M&A transactions spanning 6 continents. Corum's M&A advisors are experienced former software company executives themselves, who work with the support of the industry's best M&A research, writers and business valuation experts, using the world's most comprehensive database of tech company buyers. Corum educates the software industry with conferences and publishes the most widely-distributed software M&A research, including its Tech M&A Monthly Webinar.
About Edvantage Group
Edvantage Group is Europe's leading e-learning company. Edvantage group helps organizations improve employee skills and transfer knowledge, leading to better performance and business results. The company seamlessly combines cloud and Software-as-a-Service (SaaS) technologies, including Learning Gateway and CourseBuilder, with exceptional learning experiences, on-demand content and professional services to deliver measurable value for clients. Edvantage group serves over 400 organizations from offices throughout the Nordic countries, Benelux and the UK.
Lumesse is the only global company making talent management solutions work locally. Lumesse helps customers around the world to implement successful local talent management initiatives that identify, nurture and develop the right people, in the right place, at the right time. Our multi-cultural background and presence means we understand how to deliver talent solutions that work the way our customers work, as individuals and as teams, because no two people, organisations or cultures are the same. Lumesse regards differences as strengths, not as obstacles.