Business Wire

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

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

Celltrion Receives Positive CHMP Opinion for Herzuma® for Trastuzumab Biosimilar15.12.2017 22:13Pressemelding

Celltrion, Inc. (KOSDAQ: 068270) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a positive opinion recommending that Herzuma® (trastuzumab biosimilar) be granted marketing authorization in the European Union (EU) for the treatment of patients with early breast cancer, metastatic breast cancer, or metastatic gastric cancer whose tumors have either HER2 overexpression or HER2 gene amplification. The CHMP’s opinion will now be sent to the European Commission (EC) for final review. Herzuma® is a biosimilar to Herceptin®i, a breast cancer and gastric cancer treatment antibody biologic drug developed by Genentech and marketed by Roche. Herceptin® is a blockbuster drug which had worldwide sales of CHF 6.8 billionii (US$6.8 billion) in 2016, of which CHF 2.1 billioniii (US$2.1 billion) was in

Takeda and TiGenix announce that Cx601 (darvadstrocel) has received a positive CHMP opinion to treat complex perianal fistulas in Crohn’s disease15.12.2017 12:34Pressemelding

Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and TiGenix NV (Euronext Brussels and NASDAQ: TIG) (“TiGenix”) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), in conjunction with the Committee for Advanced Therapies (CAT), has adopted a positive opinion recommending a marketing authorization (MA) for investigational compound Cx601 (darvadstrocel). Cx601 is expected to be indicated for the treatment of complex perianal fistulas in adult patients with non-active/mildly active luminal Crohn’s disease, when fistulas have shown an inadequate response to at least one conventional or biologic therapy.2 This recommendation marks the first allogeneic stem cell therapy to receive a positive CHMP opinion in Europe. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/201712

Bitcoin Romania and Twispay Announce Integration Partnership Providing Users with the Ability to Purchase Bitcoin with Bank Cards15.12.2017 12:21Pressemelding

Bitcoin Romania, leading Eastern European Bitcoin exchange & brokerage firm, and Twispay, Swiss-owned European payment processor and FinTech pioneer, today announced the availability of a payment integration that allows a global clientele to acquire Bitcoin and Ethereum cryptocurrencies using Visa and Mastercard bank cards. Unprecedented in Romania, this is one of the first East-Central European integration partnerships that allow consumers to use their cards to purchase cryptocurrency. Until recently, investors could only acquire cryptocurrencies through bank transfers and cash deposits, but the volatility of cryptocurrency markets dictates the need for additional operational flexibility. Investors require faster, safer, more reliable, and more comfortable ways to complete purchases. “One minute can make the difference between a million lost and a million earned. That is pr

Upon Conclusion of the Fourth Annual Forum for Promoting Peace in Muslim Societies, Scholars and Intellectuals Visit the Louvre Abu Dhabi Museum15.12.2017 11:38Pressemelding

A high-level delegation of dignitaries, scholars and intellectuals participating in the fourth annual Forum for Promoting Peace in Muslim Societies, visited the Louvre Abu Dhabi museum. The delegation was headed by H.E Mustafa Ceric, former Grand Mufti of Bosnia; alongside Sheikh Mohammad Mukhtar Ould Imbala, Head of Mauritania’s Fatwa & Grievances Supreme Council; H.E Amar Mirghani Hussein, Sudanese Minister of (religious) Guidance and Endowments; and H.E Salho Jay, Imam of the Juma Masjid in South Africa. The Forum was held in Abu Dhabi from 11-13 December 2017, with the participation of more than 700 scholars, intellectuals and religious dignitaries from around the world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171215005255/en/ Group Photo of the Scholars and Intellectuals during their visit to the L

Kennedy Wilson Acquires 124-Unit Northbank Apartments in Dublin, Ireland for €45 Million15.12.2017 11:00Pressemelding

Global real estate investment company Kennedy Wilson (NYSE: KW) announces that it has acquired Northbank Apartments, a wholly-owned 124-unit apartment community in Dublin’s North Docks, for €45 million from Jarmar Properties Limited (In Receivership) acting through David Carson of Deloitte as Statutory Receiver, the lender being the National Asset Management Agency (“NAMA”). Situated in Dublin’s North Docks, Northbank is located just 50 meters from Kennedy Wilson’s existing 84-unit Liffey Trust apartments. The two buildings benefit from great transport links as the LUAS Red line is immediately adjacent connecting to Dublin’s city centre and main train stations in five minutes. “The successful acquisition of Northbank in such close proximity to our Liffey Trust asset allows us to leverage our existing presence and implement our value-add asset management strategy, including a

AML BitCoin Enters Phase II of ICO15.12.2017 09:00Pressemelding

NAC Foundation, LLC announces today that the initial coin offering for the AML BitCoin – the world’s only patent-pending compliant digital currency – has been extended for another month to accommodate a torrent of last minute, new coin purchasers and the demands of thousands of current owners of the coin, who have had difficulty navigating the process of establishing the specialized wallet required to hold the innovative digital currency. This second phase of the AML BitCoin initial coin offering will see an increase in the price of the coin, from US $1.00 to US $1.25. The company has already been contacted by prospective purchasers in the slightly higher priced Phase II, and anticipates a further price increase to US $1.50 within a week or two. HitBTC, one of the world’s largest and most active digital currency exchanges, was prepared to list the AML BitCoin for trading on

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

Besøk vårt presserom