Investcorp Technology Partners (ITP), the global technology arm of Investcorp, is set to acquire a majority stake in VEDA GmbH, a leading HR software and payroll-as-a-service provider in the DACH region. The transaction is expected to conclude in Q1 2024, though the terms of the deal have not been disclosed.
VEDA’s CEO, Ralf Graessler, will retain his investment in the company following the acquisition. Georg Knoflach, MD at ITP, praised VEDA for its leading position in the €3B DACH HR and payroll software/services market for SMEs. He expressed admiration for the quality of VEDA’s products and go-to-market strategy.
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What VEDA Offers
Headquartered in Alsdorf, Germany, VEDA is a digital HR management platform provider. Its solutions cover payroll, time and security, recruiting, personnel development, and learning management. The company aims to streamline tasks and reduce administrative efforts. With around 170 employees, VEDA serves over 1,200 customers, including major corporations like MAN and Lufthansa, and generated €20M in revenue in 2023.
Capital Utilization and Expansion Plans
ITP, VEDA’s first institutional investor, plans to enhance the company’s go-to-market strategy, expand its product portfolio, and focus on the growing cloud business. This investment will also facilitate VEDA’s growth through acquisitions in the DACH HR and payroll markets.
CEO’s Vision for VEDA
Ralf Graessler, CEO of VEDA, expressed pride in bringing in ITP as VEDA’s first institutional investor. He highlighted ITP’s sector and market knowledge as crucial for VEDA’s next stage of growth, both in terms of digitalization and through further acquisitions.
Investcorp’s Global Presence
Founded in 1982, Investcorp is a global investment manager specializing in alternative investments across various sectors. With offices worldwide and managing over $48B in total assets, Investcorp is active in private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure, and insurance asset management.
A Strategic Move in HR Tech
Investcorp’s acquisition of a majority stake in VEDA represents a strategic move in the HR tech and payroll services sector, positioning VEDA for further growth and innovation in the DACH region.
