Business Wire

Snow Software and Vitruvian Partners Announce $120 Million Strategic Investment from Sumeru Equity Partners and Ontario Pension Board

27.4.2017 13:00 | Business Wire

Del

Snow Software (“Snow”), the global leader in Software Asset Management (“SAM”) and Cloud Spend Management solutions, today announced a $120 million strategic investment from Sumeru Equity Partners (“SEP”) and Ontario Pension Board (“OPB”). The investment will accelerate global expansion plans, enhance Snow’s offering across mobile and cloud platforms and drive new product innovation. Existing shareholders, including CEO and co-founder Axel Kling, Snow employees and Vitruvian Partners (“Vitruvian”), will continue to hold a majority shareholding in the business and remain fully committed to Snow’s evolution. SEP Managing Directors, Jason Babcoke and George Kadifa, will join Snow’s board of directors.

Chief Executive Officer and co-founder of Snow, Axel Kling, commented: “We are grateful not only to have been part of making Software Asset Management one of the fastest-growing software verticals in the world, but also to get the opportunity to redefine the customers’ expectations of SAM solutions through coverage of new platforms, licensing types and advanced automation capabilities.

“We have come a long way but we are still only scratching the surface on the enormous potential in supporting customers to ensure that the $394.8 billion1 spent every year on enterprise software is invested efficiently. With Vitruvian and SEP, we are thrilled to have the backing of two world-class investors as Snow enters the next stage of its development on our continued quest for brilliance.”

Founded in 2004, Snow is the established global market leader in SAM, helping over 6,000 organizations across more than 50 countries contain and optimize software spend and achieve compliance with complex software licensing terms across mobile, desktop, data center and cloud solutions. Snow’s solutions provide highly automated reconciliation of license entitlements to actual software usage, installations/ removals and license upgrades as well as advanced analytics which help customers save up to 30% of their annual software expenditure.

Customers further use Snow’s solution as a decision-making analytics tool to direct investment in new software and maximizing ROI. Snow’s cloud-based and on-premise platforms have been recognized and rewarded by among others Forrester, Gartner and ITAM Review. Snow has grown its revenues by more than 50% annually since 2012 and today has over 700 employees in 21 countries. Recent notable client wins include Canon, Sky, Lockheed Martin, IKEA, Volkswagen, Tesco and Rio Tinto.

Managing Partner at SEP, Kyle Ryland, commented: “We identified Snow several years ago as a leader in managing the complexity and cost of software and cloud services, a growing challenge for enterprises. Under the leadership of Axel, Snow has demonstrated strong growth and product innovation and we are excited to partner with the company and Vitruvian to build upon that success.”

Mike Risman, Chairman of Snow Software added: “Vitruvian is delighted to continue supporting Axel and the Snow team in their drive to global leadership in this exciting market. We welcome SEP and OPB as key partners to help achieve success. Snow’s relentless focus on product excellence has delivered tremendous growth since inception, and it has been a privilege for us to work on a number of strategic initiatives with the business over the past years. The addressable market for software governance and cloud control solutions is massive. We congratulate Axel and his team on the scope of their founding vision and achieving this additional milestone on their impressive journey to global implementation.”

ENDS

About Snow Software

Snow provides Software Asset Management (SAM) solutions that prevent any of the $394.8 billion spent every year on enterprise software being a wasted investment – ensuring organizations have appropriate licensing for the software they use.

More than 6,000 organizations worldwide rely on Snow to optimize licensing across mobile, desktop, data center and cloud platforms.

For more information, please visit www.snowsoftware.com

About Sumeru Equity Partners

Sumeru Equity Partners is a technology-focused private equity firm that invests in market leaders across software, technology-enabled services and hardware. The firm was founded in Silicon Valley by an experienced team from Silver Lake. Sumeru Equity Partners utilizes extensive operating and investment experience in partnership with founders and management teams to drive growth and build strategic value. We believe long-term value is created through better strategy, operations and business models, not financial engineering. Our portfolio includes industry leaders such as Blackline Systems, Buildium, Cybera, Foreflight and Talend, among others. For more information, please visit www.sumeruequity.com

About Ontario Pension Board (OPB)

Ontario Pension Board administers Ontario's Public Service Pension Plan, a defined benefit pension plan serving over 85,000 active, retired and deferred members and their employers. With more than $24.4 billion in assets, it is one of Canada's largest pension plans. Over the last 20 years, Ontario Pension Board has become one of Canada's leading direct owners of high quality commercial real estate.

About Vitruvian Partners

Vitruvian Partners is a leading pan European private equity investor focusing on high growth, technology-centric “Dynamic Situations”. Vitruvian supports entrepreneurial management teams and founders through a combination of strategic initiatives and operational support. Vitruvian has assets under management of €2.2 billion and offices in London, Stockholm, Munich, San Francisco and Luxembourg. Vitruvian has been particularly active in the technology and internet/cloud services environment with strategic investments that include: Just Eat, Farfetch, Skyscanner, Voxbone, Snapologic, CRF Health, Benify, Callcredit and OAG – as well as its longstanding support of Snow Software.

For further information on Vitruvian please contact: Kay.Larsen@instinctif.com

1 Gartner. Forecast Alert: IT Spending, Worldwide, 1Q17 Update. Published: 30 March 2017 I

Contact information

Snow Software
Su Kent
su.kent@snowsoftware.com
+46 70 822 1149

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

The Valence Group Issues Fairness Opinion to SK Capital in Connection with Archroma18.8.2017 13:30Pressemelding

The Valence Group has provided a fairness opinion to SK Capital Partners, LP in connection with its recapitalization of Archroma, including investments made by various affiliates of SK Capital. Terms of the transaction were not disclosed. About SK Capital SK Capital is a private investment firm focused on the specialty materials, chemicals and pharmaceutical sectors. The firm builds strong and growing businesses that generate substantial long-term value for its investors. SK Capital utilizes its industry, operating and investment experience to identify opportunities to transform businesses into higher performing companies with improved strategic positioning, growth, profitability and risk profiles. The firm currently has approximately $1.9 billion of assets under management and its portfolio companies generate revenues of over $5.0 billion annually and employ approximat

Biker Summer 2017 campaign: What’s happening during Biker Summer 2017? Moto-tyres.co.uk is giving away exciting prizes!18.8.2017 09:22Pressemelding

Whether it’s a short weekend break or a long-distance tour – once again this year Moto-tyres.co.uk is asking bikers from 10 countries about their dream destinations and longest journeys as part of its “Biker Summer 2017” campaign. To ensure than nothing gets in the way of your next tour, the two-wheeler tyre store from Delticom, Europe’s leading online tyre dealer, is entering anyone who completes the survey before 30 September 2017 into a prize draw to win some great biking accessories. Simply answer three short questions about your plans for bike tours this year (don’t forget to provide your name and email address), and with a bit of luck, you might win one of these great prizes. Up for grabs are a GARMIN motorbike GPS system, a GoPro camera with helmet bracket and five 200-Pound vouchers for new motorbike tyres from the online store – thanks to the product range at Moto-tyres.co.uk, eve

Lenovo Continues to Gain Momentum in First Quarter FY 2017/1818.8.2017 00:04Pressemelding

Behind the strength of its 3-wave strategy, Lenovo’s business transformation continued to gain traction during the first quarter, delivering solid profitability in its core PC and smart devices business, and revenue and profit improvements in targeted growth areas, including the data center and mobile businesses. Fueled by new investments in people and products, Lenovo’s Data Center Group (DCG) introduced the most comprehensive product lineup in its history, with the new ThinkSystem and ThinkAgile portfolio, and continued to build out its end-to-end sales organization. Similarly, Lenovo’s Mobile Business Group launched significant new products led by the Moto Z2 Force, available now on all major U.S. carriers, and ramped up its branding efforts worldwide. “In the first quarter this fiscal year, we had stable performance as we executed our 3-wave strategy with commitment. We

Spirent Tests Wi-Fi Network Performance with O2 at the Coca-Cola London Eye17.8.2017 15:57Pressemelding

Spirent Communications plc (LSE:SPT), today announced its Landslide E10 network test platform has been used with O2 to validate the Wi-Fi network performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005758/en/ Spirent Landslide E10 helped O2 validate Wi-Fi performance and capacity at the Coca-Cola London Eye, before the launch of a new smartphone application last month. (Photo: Busines Wire) Merlin Entertainments plc, operator of the London Eye, wanted to measure its Wi-Fi network performance, to ensure its infrastructure could provide an excellent experience for users of the new app, which puts increased demands on the Wi-Fi network. “The London Eye is a global attractio

Watch BizWireTV: A Camera You Can Wear and Krispy Kreme’s Famous Donuts Get Eclipsed with Chocolate17.8.2017 12:08Pressemelding

On BizWireTV, catch some Quick Biz Hits and see the latest in Star Power. Also see what’s happening in the startup world with the Accelerator Report, featuring the VC Watch and this week’s Startup Standout. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817005305/en/ BizWireTV is hosted by Jordyn Rolling (Photo: Business Wire Now you can watch BizWireTV, and the latest breakthroughs in tech from the biggest brands, on any screen you want by downloading the new app through the Apple TV and iPhone App Store and Google Play for Android devices. Top of the Wire Introducing FrontRow: the camera re-invented. Watch BizWireTV to see more disruptors as well as the top 5 trending stories of the week! A core c

PsiOxus Therapeutics Announce Two New Board Appointments: New Board Appointments Strengthen Company’s US Presence17.8.2017 07:00Pressemelding

PsiOxus Therapeutics, Ltd. (PsiOxus) today announced the appointment of Charles Rowland and Duncan Higgons to the Board of Directors as part of an ongoing drive to expand in the US. Charles Rowland was most recently the President and Chief Executive Officer (CEO) of Aurinia Pharmaceuticals, a clinical stage pharmaceutical company focused on the global lupus nephritis market. Prior to this, he served as the Vice President and Chief Financial Officer (CFO) of ViroPharma, during which time the company grew into a global biopharmaceutical business with $500 million in annual revenues until it was acquired by Shire plc for $4.2 billion. Before joining ViroPharma, Mr. Rowland was executive Vice President, CFO, and interim co-CEO, for Endo Pharmaceuticals. In his earlier career, Charles held finance and operational positions at Biovail Pharmaceuticals, Breakaway Technologies, Pharmacia

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom