Advent Venture Partners' fund investment Mediapps merges with Ever Team

 

The merger between France’s leading provider of Enterprise Content Management solutions and Europe’s leading provider of Corporate Portals has resulted in the formation of Europe’s leading player in the market of Enterprise Content Management (ECM). As part of the transaction Advent Venture Partners invests €2 million and becomes lead investor of the combined entity.

Paris, 5 January 2005: Ever, France’s leading provider of Enterprise Content Management solutions, today announced that it had finalised the acquisition of Mediapps, European leader in Corporate portal software. Under the terms of the final agreement that was signed on 23 December 2004, Mediapps exchanged 100% of its shares for an undisclosed number of Ever shares. Mediapps, which is based in Paris La Défense, will henceforth operate as a subsidiary of Ever.

“Ever and Mediapps share the same values, namely a strategy based on customer service quality and a vision that adopts the plurality of European culture. By joining forces and pooling our strengths in providing open and complementary solutions, we will be able to help our clients maximise the value of their information systems”, said Béchara Wakim, Chairman and CEO of Ever.

He added: “the alliance of our technologies, our resources and our expertise will enable the Ever Group to propose solutions that are adapted to small and medium sized businesses as well as government or leading multinationals”.

Mediapps was previously headed by Pascal Snieg, who becomes Ever Team’s Vice-President for Sales and Marketing. Mediapps France will now be headed by Pascal Kern.

According to Pascal Snieg: “The highly complementary nature of our respective products and services will right from the start enable us to offer our clients all the communication, collaborative and co-operative solutions that only a handful of major US software publishers are able to provide. This merger will unquestionably lead to the formation of Europe’s leading provider of Enterprise Content Management solutions”.

“Together, Ever and Mediapps will continue to offer flexible and open solutions based on Java and XML in order to ensure optimal integration with our users’ existing systems”, says Pascal Snieg.

As soon as Ever’s acquisition of Mediapps was finalised, the two companies merged their respective Research & Development departments in order to begin working on seamlessly integrating the EverSuite (Ever) and Net.Portal (Mediapps) solutions. The new group has subsidiaries in Germany, Spain, France, the UK and North America. A third of its turnover is generated through international sales and the group’s target is to derive over half of its turnover from international sales during the coming fiscal year.

The transaction was underpinned by a €2 million investment in Ever by leading European venture capital firm Advent Venture Partners, previously the lead investor in Mediapps, aimed at strengthening the group’s balance sheet and supporting its development plans in France and abroad.

“The two companies are at the cutting edge of technology; their respective solutions, clients and partner networks are highly complementary. This transaction creates a new group with the scale and resources to increase its growth rate and its market share in Europe. It will be able to compete with the US heavyweights with a range of products and services that is just as extensive and very competitive”, says Frédéric Court of Advent Venture Partners.

The new group will have a strong shareholder structure consisting of Advent Venture Partners as lead investor as well as several other institutions including AGF, AXA, BNP-Paribas and Partech International.

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