This has in turn strengthened Avanquest’s EBITDA which rose 54% in FY 2020-2021 to €11 million or 12.4% as a percentage of revenue compared to €7 million and 7.9% respectively in the prior fiscal year.įavorable financial terms and unique opportunities for the Group The percentage of recurring revenue (including subscription sales) has accordingly continued to grow and at year-end represented 58% of the division’s total sales for FY 2020-2021, up from 35% in FY 2018-2019. As a result, subscription sales now account for 78% of the revenue provided by the three main products developed and distributed by Avanquest (SodaPDF, inPixio, Adaware) compared to 50% in FY 2018-2019. While revenue and EBITDA 5 have remained stable since FY 2018-2019, the first year the acquired businesses were fully integrated, FY 2020-2021 marked the completion of Avanquest’s transition to a subscription-based business model (SaaS).
Since the announcement of Avanquest's acquisition of the Upclick, Lulu Software, and Adaware businesses in March 2018, the division has undergone a profound strategic transformation from a third-party software reseller to a proprietary subscription-based software publisher and distributor. After having worked alongside Eric for more than three years to reorganize and reposition the division, I am very confident about the future of our software publishing activities and look forward to this new chapter in Avanquest’s development."Īvanquest: a successful strategic transformation This transaction also offers an opportunity to officially announce the appointment of Eric Gareau as Avanquest’s CEO. As owner of 100% of the share capital of the entities comprising the Avanquest division, Claranova will reap the full benefits of the efforts made over the last two years in transitioning to a SaaS 4 business model and the new prospects that are now available to the division. Pierre Cesarini, CEO of Claranova Group commented: "I am particularly pleased to announce the completion of this transaction which will contribute to simplifying the Group’s capital structure in order to facilitate the market’s understanding of our business portfolio organization. On this basis, the total value of the division’s shares amounted to €155.9 million 3. PARIS-( BUSINESS WIRE)-Regulatory News:Ĭlaranova (Paris:CLA) (Euronext Paris: FR0013426004 - CLA) today announced the completion of the buyout of all minority interests in Avanquest, its software publishing division, as announced on August 11, for a total consideration of €99.9 million, including a purchase price adjustment of €1.5 million based on Avanquest's cash position 1.
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