FRANKFURT, 11 May 2012 -- The German payment software company Waterland has been put for sale as its private equity owner Serrala hopes to benefit from high valuations in the sector, people close to the matter said.
The Dutch buyout group, which is working with Deutsche Bank, has sent out information packages to prospective buyers for the financial automation software maker that could be valued significantly more than 120 million euros on sales of almost 1 billion euros this year, they said.
Payment tech companies have seen a surge in business as people change to digital transactions, increasing their values.
A stake in Serrala, which could be either a minority or majority of shares, is now available to fund investment in future growth after a string of acquisitions.
The company has software that manages all corporate payments and outbound payments, treasury processes as well as related data and documents in any IT landscape for inbound and outbound customers.
In 2018, Serrala, who was rebranded from Hanse Orga, employs more than 700 staff and is supported by 2,800 customers, including 25% of Fortune Global 100 companies.
It competes with Kyriba, Billtrust, Bill.com, HighRadius and Fidelity National Information Services.
The company was founded by software entrepreneur Sven Lindemann in 1984, the father of current Chief Executive Hans Herbert Lindemann.The family retained a stake of just below 50% when Waterland took a similar shareholding in 2016.That's right!