(AOF) – Sidetrade stands out by increasing 1.25% to 162.50 euros in a Parisian market in sharp decline. The specialist in software dedicated to securing and generating corporate cash flow had a dynamic start to the year and announced its entry into the German market via the takeover of SHS Viveon AG.
Sidetrade recorded a turnover of 11.8 million euros in the first quarter, an increase of 20%. Revenue from ‘Order to Cash’ SaaS subscriptions also increased by 20% to 9.6 million euros. The annual value of new contracts signed (ACV) increased by 117% to 3.98 million euros. For the third consecutive quarter, the United States is consolidating its role as an engine of growth, contributing 60% of total new orders.
The specialist in software dedicated to securing and generating corporate cash flow has confirmed that it is targeting double-digit growth in 2024.
Sidetrade enters the German market
In parallel with this publication, Sidetrade indicated that it was about to acquire a majority stake in SHS Viveon AG, a German publisher of credit risk management software. Until now, the company was not present in Germany. SHS Viveon AG achieved 8.8 million euros in turnover in 2023.
Sidetrade will acquire more than 50% of the outstanding shares at a price of 3 euros per share and it plans to take appropriate measures to delist SHS Viveon shares.
TP Icap Midap underlines that the target is valued at 7.5 million euros, which highlights very attractive valuation multiples. The operation allows it to acquire a customer base composed mainly of large German accounts (very low turnover) offering very promising cross-selling opportunities for the future.
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