Sidetrade, the global leader in AI-powered Order-to-Cash applications, is to acquire a majority stake in SHS Viveon AG, a German leader in credit risk management software.
Sidetrade today announces that it has entered into binding agreements with shareholders of SHS Viveon AG to acquire more than 50% of all outstanding shares in SHS Viveon AG at a price of €3.00 per share.
The number of shares Sidetrade has the intention to acquire is 1,462,489 shares, representing 58.73% of the outstanding share capital of SHS Viveon AG:
- 43.30% of the SHS Viveon shares would be acquired by Sidetrade in the coming days; and
- 15.43% at subsequent dates in June and July 2024.
The price of €3.00 per share represents a 53% premium over the 1-year VWAP (Volume-weighted average price) of SHS Viveon AG (€1.96 per share) as of April 15, 2024.
Sidetrade is also currently considering acquiring additional SHS Viveon AG shares from existing shareholders at €3.00 per share.
In addition to the aforementioned acquisitions, Sidetrade is considering launching a public tender offer to acquire the remaining shares of SHS Viveon AG also at €3.00 per share.
Upon completion of these acquisitions, Sidetrade would become the majority shareholder of SHS Viveon AG owning a controlling stake and would take the appropriate measures to delist SHS Viveon's shares from public trading.
Sidetrade is assisted by King & Spalding LLP as legal advisor on the transaction and ODDO BHF SE as financial advisor.
About SHS Viveon AG, a German leader in credit risk & compliance management software applications
Founded in 1991 and headquartered in Munich, Germany, SHS Viveon AG offers applications designed to enable risk, credit, and compliance management teams to automatically identify, assess, and hedge risks in a flexible, digital process. It simplifies access to all relevant data from any system, improves analysis and simulation, and enables better business decisions.
In 2023, SHS Viveon AG reported revenues of €8.8 million. SHS Viveon AG's customer portfolio currently comprises 80 businesses including Fortune 100 companies.
Sidetrade contacts
Investor relations
Christelle Dhrif 00 33 6 10 46 72 00cdhrif@sidetrade.com
Media relations
Becca Parlby 00 44 7824 5055 84bparlby@sidetrade.com
About Sidetrade (www.sidetrade.com)
Sidetrade (Euronext Growth: ALBFR.PA) provides a SaaS platform dedicated to securing and accelerating cash flow. Sidetrade's next-generation AI, nicknamed Aimie, analyzes $6.1 trillion worth of B2B payment transactions daily in the Sidetrade Cloud to predict customer payment behavior and the attrition risk of more than 38 million buyers worldwide. Aimie recommends the best operational strategies, intelligently automates actions on the entire Order-to-Cash process, and dematerializes customer transactions to enhance productivity, performance, and working capital improvements.
Sidetrade has a global reach, with 315+ talented employees based in Paris, London, Birmingham, Dublin, Houston, and Calgary, serving global businesses in more than 85 countries. Amongst them: Bidcorp, Biffa, Bunzl, Contentsquare, Engie, Expedia, Inmarsat, KPMG, Lafarge, Manpower, Opentext, Page, Randstad, Saint-Gobain, Securitas, Sodexo, Tech Data, UGI, Veolia.
Sidetrade is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business.
For further information, visit us at www.sidetrade.com and follow us on X @Sidetrade.
In the event of any discrepancy between the French and English versions of this press release, only the English version is to be taken into account.
