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Serviceware SE takes over knowledge management specialist SABIO and expands ESM platform

Publication of an insider information in accordance with Article 17 MAR

Serviceware SE takes over knowledge management specialist SABIO and expands ESM platform

Bad Camberg, 30 July 2018

 

  • Serviceware integrates through SABIO take-over SaaS knowledge management module into its own platform and further enhances unique selling position on the market
  • Additional SaaS sales revenues for Serviceware through the acquisition of EUR 3.1 million in 2018 on an annualised basis
  • Cross-selling potentials through strong national and international customer basis of SABIO as a growth accelerator

Serviceware SE (“Serviceware”, German Securities Identification Number WKN A2G8X3), a leading European provider of software solutions for the Enterprise Service Management (“ESM”) market, takes over all shares of SABIO GmbH effective 30 July 2018. A corresponding notarised purchase agreement has been signed today. The purchase price is fully paid by Serviceware out of the existing liquidity; together with components coupled to the achievement of future goals, it corresponds to an upper single-digit million euro amount.

SABIO is a leading provider of knowledge management solutions with a Software-as-a-Service (SaaS) business model. As a result of the take-over, Serviceware will be the first provider in the world to be able to integrate a knowledge management module into its Enterprise Service Management (ESM) platform. In this way Serviceware offers its customers the possibility to continue to increase the efficiency of their services and significantly reduce their costs. The combination of the existing software from Serviceware with the SABIO solution offers, moreover, the possibility to further improve service processes by means of artificial intelligence.

SABIO generated total sales revenues of around EUR 4.6 million in 2017, including EUR 3.1 million in SaaS. The company has a strong national and international customer basis, including many large groups and relies on a proven international sales expertise.

EXPLANATORY NOTES

With the take-over of SABIO, only around three months after the successful going public of Serviceware in the Prime Standard, the company continues to consistently implement its growth strategy. As a result of the acquisition, the leading ESM platform of Serviceware is technologically extended, cross-selling potentials are created, more particularly, for large national and international groups and the international distribution activities can continue to be accelerated further by including SABIO. At the same time, the share of SaaS sales revenues in the total group sales continues to be significantly increased.

The innovative and intuitive knowledge management solution by SABIO will supplement the existing digital modules of the Serviceware ESM platform, helpLine (service management), anafee (financial management) and Careware (field service management). Leading market research institutes have stressed the increasing importance of a context-sensitive knowledge management, especially in self-service processes of customers. Through the combination of knowledge management and artificial intelligence, service processes of the most different complexity can be further optimised. Serviceware will focus in future on an intensive exploitation of such possibilities.

The software solutions of Serviceware and SABIO are already used together by several customers. The SABIO solution is characterised by excellent possibilities of connection to the existing Seviceware products.

Dirk K. Martin, CEO and Founder of Serviceware: “With SABIO we have found the perfect company to implement our growth objectives on several levels upon a takeover. The market for Enterprise Service Management is growing dynamically, and in the competition for market shares a central driver consists in offering corporate customers the most performing and efficient platform with which they can digitalise their service processes and increase customer satisfaction. As a result of the integration of SABIO into the Serviceware Group, we make yet another big step forward in view of European market leadership. Based on our many years of experience in the integration of companies, I assume that the process of growing together will be smooth and rapid.”

Alexander Holtappels, Founder and Managing Director of SABIO: “Serviceware is the ideal partner for us. We are excited about a joint future, because our solutions complement each other perfectly. SABIO will strongly supplement the Serviceware platform in particular in the field of customer self-service processes. As a result of the optimisation of self-service processes, our customers can already save today up to 30 percent of the costs arising there, whilst securing a higher quality. Serviceware will in future cover the value chain in Enterprise Service Management even more extensively. We very much appreciate being part of an owner-managed German software company in the future and playing a leading role together in a new area of the software market.“

About Serviceware SE

Serviceware is a leading provider of software solutions for digitising and automating service processes, that enterprises can use to improve their service quality and efficiently manage their service costs. The unique, integrated, and modular ESM platform comprises the proprietary software solutions helpLine (service management), anafee (financial management) and Careware (field and customer service management). Serviceware has more than 500 customers from a wide range of industries, including nine DAX-listed companies and four of the seven largest German companies. The company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17 Serviceware had 285 employees.

You can find more information at www.serviceware.se.

Media Relations

edicto GmbH
Axel Mühlhaus
Tel. +49(0) 69/905505-52
Email: Serviceware@edicto.de

Serviceware SE enjoys significantly faster sales and earnings growth in H1 2017/2018 – dynamic trend expected to continue

Serviceware SE enjoys significantly faster sales and earnings growth in H1 2017/2018 – dynamic trend expected to continue

 

Bad Camberg, 27 July 2018

 

  • H1: Software as a Service (SaaS) sales up 33 percent,
    adjusted EBIT up 15 percent
  • Even stronger growth in Q2: SaaS sales up 39 percent;
    adjusted EBIT up 31 percent
  • Successful expansion of sales team and new customer acquisition
  • Profitable growth set to continue in second half of the fiscal year

Serviceware SE (“Serviceware”, ISIN DE000A2G8X31), a leading European provider of software solutions for the enterprise service management (“ESM”) market, recorded substantially faster sales and earnings growth in the first half of fiscal year 2017/2018 (to 31 May 2018). The growth rates compared to the same period of the previous year were significantly higher in the second quarter than they were in the first quarter. Sales in the first six months were up by a total of 15 percent to EUR 27.0 million. In the second quarter they lifted by 19 percent. The most important drivers were sales from Software as a Service (SaaS) sales which grew by a total of 33 percent in the first half of the fiscal year compared to the same period of the previous year to EUR 7.4 million. In the second quarter they lifted by 39 percent.

After adjustment for one-off expenses of EUR 0.9 million – in the period for Serviceware’s successful IPO in April 2018 – EBIT increased by 15 percent in the first six months to EUR 3.1 million. Including expenses for the IPO, EBIT in the first half of the fiscal year totaled EUR 2.2 million. Adjusted EBIT was up by 31 percent in the second quarter. Adjusted consolidated earnings after taxes in H1 were up by 18 percent to EUR 2.4 million (including expenses from the IPO: EUR 1.5 million). It lifted by more than 40 percent in the second quarter alone compared to the same period of the previous year.

Harald Popp, Serviceware’s CFO and co-founder, commented: “We are very pleased with the figures from the first six months of 2017/2018 and we once again significantly increased the pace of our growth in particular in the second quarter, lifting our profits by an above average amount.”

The positive figures go hand in hand with the continued successful course set for Serviceware’s growth strategy in the first half of 2017/2018. Market penetration increased significantly with around 40 new customers being acquired in the first six months of the fiscal year. The new customers acquired during the first six months also include a large corporate group from Scandinavia. Serviceware was also successful with regard to internationalisation, and the sales team in Spain and the Netherlands has been reinforced as a result. This is also expected to be the case in Sweden and the United Kingdom very soon. In addition, during the period under review, Serviceware also investigated non-organic growth possibilities and also made progress in this regard.

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “We are making excellent progress with implementing our long-term growth strategy. Developments over the past few months have given us a great deal of confidence and in addition we are also enjoying long-term benefits from companies’ needs to digitalise their service organisation and thus differentiate themselves from the competitors.”

Based on the successful course of business in the first six months and the unchanged positive growth in the past few weeks, Serviceware believes that the profitable growth in the first half of the year will continue in the second half of the fiscal year.

The report on the H1 figures will be available on Serviceware SE’s Web site from 27 July 2018 at www.serviceware.se. 

About Serviceware SE

Serviceware is a leading provider of software solutions for digitising and automating service processes, that enterprises can use to improve their service quality and efficiently manage their service costs. The unique, integrated, and modular ESM platform comprises the proprietary software solutions helpLine (service management), anafee (financial management) and Careware (field and customer service management). Serviceware has more than 500 customers from a wide range of industries, including nine DAX-listed companies and four of the seven largest German companies. The company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17 Serviceware had 285 employees.

You can find more information at www.serviceware.se.

Media Relations

edicto GmbH
Axel Mühlhaus
Tel. +49(0) 69/905505-52
E-mail: Serviceware@edicto.de

Serviceware SE: Greenshoe option fully exercised after successful IPO; stabilisation period terminated early on 3 May 2018

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE
Serviceware SE: Greenshoe option fully exercised after successful IPO; stabilisation period terminated early on 3 May 2018
Bad Camberg, 4 May 2018
 Serviceware SE (“Serviceware” or the “Company”, ISIN DE000A2GS625, WKN (German Securities Code) A2G8X3), a leading provider of software solutions for the enterprise service management (“ESM”) market, has been informed by Commerzbank, in its role as stabilisation manager for the IPO, that the greenshoe option granted by the selling shareholders for 483,000 shares has been fully exercised.As a result, the stabilisation period terminated early on 3 May 2018. The free float will total 35.3 percent after the lock-up periods expire. Commerzbank Aktiengesellschaft and Hauck & Aufhäuser Privatbankiers Aktiengesellschaft jointly supported the transaction as joint global coordinators and joint bookrunners. Hauck & Aufhäuser will act as designated sponsor.

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “The fact that the greenshoe has been fully exercised shows the strong interest in our shares. We would like to thank our first shareholders for the trust they have placed in Serviceware.”

Harald Popp, Serviceware’s CFO and co-founder, commented: “We are very happy with our launch on the stock market and the share price performance over the first few weeks. We are very pleased with our success and will use it in order to drive our growth and expand our leading position on the market.”

About Serviceware SE
Serviceware is a leading provider of software solutions for digitising and automating service processes, that enterprises can use to improve their service quality and efficiently manage their service costs. The unique, integrated, and modular ESM platform comprises the proprietary software solutions helpLine (service management), anafee (financial management) and Careware (field and customer service management). Serviceware has more than 500 customers from a wide range of industries, including nine DAX-listed companies and four of the seven largest German companies. The company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17 Serviceware had 285 employees.

You can find more information at www.serviceware.se.

Media Relations

edicto GmbH
Axel Mühlhaus
Tel. +49(0) 69/905505-52
E-mail: Serviceware@edicto.de

Disclaimer:
This publication is for information purposes only and does not constitute an offer to sell or a solicitation to buy or subscribe to securities. The offer period with respect to the offering of securities of Serviceware SE has already lapsed. The offering was made on the basis of the securities prospectus published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or of the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act”)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

No prospectus has been or will be approved for publication in the United Kingdom in respect of the securities to which this publication relates. Consequently, this publication is being distributed only to, and is directed only at, Qualified Investors (as defined below) who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Furthermore, this publication is only addressed to and directed at persons in member states of the European Economic Area (other than in Germany or Luxembourg) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons who are also Qualified Investors, and (ii) in any other member state of the European Economic Area (other than in Germany or Luxembourg), Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than in Germany or Luxembourg) should not rely on or act upon it.
This publication is not an offer of securities for sale in Canada, Japan or Australia.

 

Serviceware SE: International RIA study honours anafee as being the best IT financial management software solution

Serviceware SE: International RIA study honours anafee as being the best IT financial management software solution

  • Research in Action (RIA) has honoured anafee as being the market leader in the DACH region for IT financial management software. According to the study, anafee has reached first place for customer satisfaction among the ten top providers.

Bad Camberg, 3 May 2018. Serviceware SE, a leading provider of software solutions for the Enterprise Service Management (ESM) market, has been honoured by the independent research and consulting company Research in Action as being the leading provider for IT financial management software.

As part of the study “Market Overview – The IT Financial Management SaaS and Software Market in 2018” study RIA GmbH questioned a total of 2,250 senior IT. All of the companies participating in the survey have annual revenues in excess of EUR 250 million and more than 5,000 employees. The survey covered all of the key regions and all industries. The DACH region accounted for the high percentage in the study. Based on the data collected, the top ten providers were evaluated and compared in terms of customer satisfaction.

The study was managed by Research in Action GmbH’s managing director Dr. Thomas Mendel, who commented: “As a result of its long-standing expertise and customer orientation anafee is currently the best solution for IT financial management.”

Serviceware offers its customers a unique, integrated and modular software platform with the three software solutions anafee, helpLine and Careware. In so doing the customer enables its customers to digitalise all of the service processes within the company – starting with financial management (anafee), and service management (helpLine) through to field service management and customer service management (Careware).

“This second award for one of our software solutions in the space of just a few weeks proves the excellent quality of our innovative software solutions.  We are very pleased that a company as well known as Research in Action has honoured anafee in a global study with a DACH focus as being a top product and the number one for financial management. Our integrated and modular software platform addresses two attractive segments on the ESM market – optimising service costs and digitising service processes. Thanks to anafee we can enable our customers to efficiently and transparently control costs in their companies and thus leverage savings potential,” commented Dirk Martin, Serviceware’s CEO and co-founder.

Customer quote:

“Our internal customers were always dissatisfied with our IT cost allocation. With anafee, we have managed to do this in a clear, transparent and causal way.”

 About Serviceware SE

Serviceware is a leading provider of software solutions for the digitalisation and automation of service processes which allows corporates to increase their service quality and to efficiently manage their service costs. Its unique integrated and modular ESM platform comprises the proprietary software solutions helpLine (Service Management), anafee (Financial Management) and Careware (Field and Customer Service Management). Serviceware serves more than 500 customers throughout a broad range of industries which include 9 DAX companies as well as 4 out of the 7 largest German corporates. The Company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17, Serviceware had 285 employees.

For further information see www.serviceware.se.

About Research in Action

Research in Action GmbH is a leading, independent research and consulting company for information and communication technology. The company offers both future-oriented as well as practical consulting for companies and solution providers.

Media Relations

Ingo Bollhöfer
Tel. +49(0) 6434/9450130
E-mail: Ingo.Bollhoefer@serviceware.se

 

Serviceware SE lifts revenues and earnings in Q1 2017/2018 – EBIT margin of around 14 percent

Serviceware SE lifts revenues and earnings in Q1 2017/2018 – EBIT margin of around 14 percent

 Bad Camberg, 27 April 2018

  • Serviceware SE closes Q1 with revenue and earnings growth
  • Revenue growth in the Service/SaaS division up 28.4 percent to € 3.6 million compared to the same period of the previous year
  • EBIT margin around 14 percent.
  • Consolidated earnings up to € 1.4 million
  • Success in acquiring key accounts in Germany and Scandinavia
  • Outlook: Continuation of dynamic, on track growth 

Serviceware SE (“Serviceware” or the “Company”, WKN A2G8X3) is a leading provider of software solutions for the enterprise service management (“ESM”) market and has concluded the first quarter of fiscal year 2017/2018 with substantial revenue and earnings growth compared to the same period of the previous year. The Service/SaaS division made the greatest contribution to this revenue increase, with its figures up by 28.4 percent. Serviceware SE’s consolidated revenues lifted by 11 percent to € 12.8 million. EBIT in the first quarter totaled € 1.8 million, up by 5 percent compared to the same period of the previous year. Consolidated earnings increased by 6.2 percent to € 1.4 million.

The first quarter was characterised by one-off factors in the amount of € 170,000 in connection with expenses for the IPO. Serviceware SE’s has been listed in the regulated market (Prime Standard) of Frankfurt Stock Exchange since 20 April 2018. The new funds from going public will be used to enhance the company’s sales to increasingly address key accounts, finance its growth via acquisitions, and for further internationalisation.

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “We recorded further successes in implementing our growth strategy in the first quarter. This also includes further expanding our customer base. We were able to acquire the first key account in Scandinavia. Moreover, in Germany, where we have been able to acquire three of the seven largest German companies for Serviceware’s annafee solution since the start of 2017, a further HDax-listed company has decided to use our services.”

Harald Popp, Serviceware’s CFO and co-founder, commented: “We enjoyed significant growth in the first quarter, in particular in our Service/Saas division. Our growth in Q2 to date also means that we are very confident for the current fiscal year. The fact that additional key accounts have decided to use our services proves that we offer convincing services.”

About Serviceware SE

Serviceware is a leading provider of software solutions for digitising and automating service processes, that enterprises can use to improve their service quality and efficiently manage their service costs. The unique, integrated, and modular ESM platform comprises the proprietary software solutions helpLine (service management), anafee (financial management) and Careware (field and customer service management). Serviceware has more than 500 customers from a wide range of industries, including nineDAX-listed companies and four of the seven largest German companies. The company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17 Serviceware had 285 employees.

You can find more information at www.serviceware.se.

The quarterly report will be available on Serviceware SE’s Web site from 27 April 2018 at www.serviceware.se.

Media Relations

edicto GmbH

Axel Mühlhaus
Tel. +49(0) 69/905505-52
E-mail: Serviceware@edicto.de

 

 

Serviceware SE enjoys successful debut in the Prime Standard of the Frankfurt Stock Exchange

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE

Serviceware SE enjoys successful debut in the Prime Standard of the Frankfurt Stock Exchange

Bad Camberg, 20 April 2018

Serviceware SE (“Serviceware” or the “Company”), a leading provider of software solutions for the enterprise service management (“ESM”) market has now successfully completed its IPO in the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The initial price for shares of Serviceware (ISIN DE000A2G8X31/WKN (German Securities Code) A2G8X3) was set at EUR 24,005. A gross amount of EUR 60 million has accrued to the Company from a capital increase as part of the IPO. Serviceware will use the funds to finance its growth via acquisitions, further internationalisation as well as a scale-up of the sales force to increase penetration of large enterprise customers.

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “We are very happy with our launch on the stock market. We will use the funds from the IPO to further drive our growth and expand our excellent position on the ESM market.”

Harald Popp, Serviceware’s CFO and co-founder, commented: “Today is a further key milestone in our company’s history. We have enjoyed a successful start on the Frankfurt Stock Exchange. Now we will focus on continuing to successfully implement our growth strategy.”

About Serviceware SE
Serviceware is a leading provider of software solutions for digitising and automating service processes, that enterprises can use to improve their service quality and efficiently manage their service costs. The unique, integrated, and modular ESM platform comprises the proprietary software solutions helpLine (service management), anafee (financial management) and Careware (field and customer service management). Serviceware has more than 500 customers from a wide range of industries, including nineDAX-listed companies and four of the seven largest German companies. The company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17 Serviceware had 285 employees.

You can find more information at www.serviceware.se.

Media Relations
edicto GmbH
Axel Mühlhaus
Tel. +49(0) 69/905505-52
E-mail: Serviceware@edicto.de

Disclaimer:
This publication is for information purposes only and does not constitute an offer to sell or a solicitation to buy or subscribe to securities. The offer period with respect to the offering of securities of Serviceware SE has already lapsed. The offering was made on the basis of the securities prospectus published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or of the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act”)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

No prospectus has been or will be approved for publication in the United Kingdom in respect of the securities to which this publication relates. Consequently, this publication is being distributed only to, and is directed only at, Qualified Investors (as defined below) who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Furthermore, this publication is only addressed to and directed at persons in member states of the European Economic Area (other than in Germany or Luxembourg) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons who are also Qualified Investors, and (ii) in any other member state of the European Economic Area (other than in Germany or Luxembourg), Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than in Germany or Luxembourg) should not rely on or act upon it.
This publication is not an offer of securities for sale in Canada, Japan or Australia.

Serviceware SE: IPO offer price set at EUR 24.00 per share

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE

Publication of an inside information according to Article 17 MAR

Serviceware SE: IPO offer price set at EUR 24.00 per share

 Bad Camberg, 19 April 2018

 Serviceware SE (“Serviceware” or the “Company”) today has set the offer price for its shares at EUR 24.00 per share.

In total, 3,703,000 shares have been placed with investors, thereof 2,500,000 newly issued shares from a capital increase, 720,000 shares from the holdings of existing shareholders and 483,000 shares from an over-allotment (“Greenshoe option”). The offer was clearly oversubscribed.

The total volume of the issue amounts to EUR 88.9 million. Assuming the exercise of the Greenshoe option, the free float will amount to approximately 35 percent. At the offer price, Serviceware’s market capitalisation at the start of trading will total around EUR 252 million.

The gross proceeds for the Company total EUR 60 million. Serviceware intends to use the net proceeds to finance its growth via M&A, further internationalisation as well as scale-up of the sales force to increase penetration of large enterprise customers.

Shares of Serviceware are expected to be listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange with German Securities Code (WKN) A2G8X3, ISIN DE000A2G8X31 and the ticker symbol “SJJ“ from 20 April 2018. Settlement is planned for 23 April 2018.

COMMERZBANK Aktiengesellschaft and Hauck & Aufhäuser Privatbankiers Aktiengesellschaft are acting as joint global coordinators and joint bookrunners for the transaction.

End of Ad-hoc notification

EXPLANATION

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “We are delighted with the very strong interest shown by investors in Serviceware’s IPO. We have an excellent position within the rapidly growing ESM market. Our integrated and modular software platform allows our customers to increase their service quality and also to analyse and budget for the service costs incurred.”

Harald Popp, Serviceware’s CFO and co-founder, commented: “Serviceware’s IPO is a key milestone since our company’s formation 20 years ago. We plan to use the funds from the IPO to consistently implement our growth strategy as a leading European software provider in the enterprise service management (ESM) sector. In return, our shareholders will have the opportunity to participate in Serviceware’s successful growth.”

In the IPO of Serviceware SE retail investors that placed orders with syndicate banks were allocated approximately 2 per cent of the total placement volume of, in aggregate, 3,703,000 shares (including 483,000 shares in connection with over-allotments). As the offer was oversubscribed, not all purchase orders from retail investors could be considered in full. All orders placed at least at the placement price by retail investors with syndicate banks were allocated according to the following allocation key: Each order at least at the placement price where demand is up to 20 shares receives full allocation. Orders above 20 shares will receive an allocation of 20 shares plus 15 per cent of the exceeding demand. There was no preferential allocation to members of the executive bodies of Serviceware SE nor to their relatives, nor to the employees or business partners of Serviceware SE. Investors will receive a separate securities statement from their custodian bank when the shares are allotted; investors will also receive further information from the custodian bank on the shares allotted to them.

The “Principles Governing the Allocation of Share Issues to Private Investors” were observed and the allocation to retail investors in connection with the offering followed the same criteria for all syndicate banks and their affiliated institutions.

About Serviceware SE

Serviceware is a leading provider of software solutions for the digitisation and automation of service processes which allow corporates to increase their service quality and to efficiently manage their service costs. Its unique integrated and modular ESM platform comprises the proprietary software solutions helpLine (Service Management), anafee (Financial Management) and Careware (Field and Customer Service Management). Serviceware serves more than 500 customers throughout a broad range of industries which include 9 DAX companies as well as 4 out of the 7 largest German corporates. The Company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17, Serviceware had 285 employees.

For further information see www.serviceware.se.

Media Relations

edicto GmbH

Axel Mühlhaus

Tel. +49(0) 69/905505-52

eMail: serviceware@edicto.de

Disclaimer:

This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities. Any such offer is being made solely on the basis of the securities prospectus published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The information legally required to be provided to investors is contained only in the securities prospectus. An investment decision with respect to the publicly offered securities of the issuer should be made solely on the basis the securities prospectus. The securities prospectus dated 6 April 2018 is available free of charge on the internet at the website of the issuer (www.serviceware.se) and during normal business hours at the issuer.

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or of the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act”)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

No prospectus has been or will be approved for publication in the United Kingdom in respect of the securities to which this publication relates. Consequently, this publication is being distributed only to, and is directed only at, Qualified Investors (as defined below) who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Furthermore, this publication is only addressed to and directed at persons in member states of the European Economic Area (other than in Germany or Luxembourg) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons who are also Qualified Investors, and (ii) in any other member state of the European Economic Area (other than in Germany or Luxembourg), Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than in Germany or Luxembourg) should not rely on or act upon it.

This publication is not an offer of securities for sale in Canada, Japan or Australia.

 

Serviceware SE sets price range for IPO at EUR 22.50 – 27.50 per share

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,  AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE

 

Press release

Serviceware SE sets price range for IPO at EUR 22.50 – 27.50 per share

Bad Camberg, 9 April 2018

  • Total IPO size of EUR 83.3 million to EUR 101.8 million comprising 2,500,000 new shares from a capital increase and a placement of 1,203,000 existing shares (including greenshoe)
  • Price range implies a market capitalization of EUR 236.3 million to EUR 288.8 million post IPO
  • Offering period to start on 9 April 2018 and expected to end on 18 April 2018
  • Listing of shares in the regulated market (Prime Standard) of the Frankfurt Stock Exchange scheduled for 20 April 2018
  • Securities prospectus approved by BaFin and published on the Company website

Serviceware SE (“Serviceware” or the “Company”), a leading European provider of software solutions for the enterprise service management (“ESM”) market, announces additional details of the planned initial public offering (“IPO”) in the regulated market (Prime Standard) of the Frankfurt Stock Exchange. The offering comprises 2.5 million newly issued primary shares from a capital increase against cash contributions, and 720,000 secondary shares from the existing shareholders plus an over-allotment (greenshoe option) of 483,000 shares from existing shareholders. The free float after the IPO will be approximately 35 percent. A 12-month lock-up period applies for Serviceware as well as the management/ selling shareholders.

The price range has been set at EUR 22.50 to EUR 27.50 per share. The period during which investors can subscribe to the offered shares commences on 9 April 2018 and is expected to end on 18 April 2018 at 12 noon (CEST) for retail investors and 2.00 pm (CEST) for institutional investors. The final offer price and final issuing volume will be determined by means of a bookbuilding process and are expected to be set on 18 April 2018.

Based on the assumption that all offered shares will be fully placed, the placement volume is expected to range between EUR 83.3 million and EUR 101.8 million of which Serviceware would generate EUR 56.3 million to EUR 68.8 million in gross proceeds. The Company intends to use the net proceeds to finance growth via M&A, internationalisation as well as a scale-up of the sales force to increase penetration of large enterprise customers. Post-IPO, the Company’s market capitalisation is expected to range between EUR 236.3 million and EUR 288.8 million.

The German Federal Financial Supervisory Authority (“BaFin”) approved the securities prospectus of Serviceware SE, relating to the Company’s Initial Public Offering (IPO), and notified the approval to the Commission de Surveillance du Secteur Financier (CSSF).The securities prospectus is available on the Company’s website www.serviceware.se under the investor relations section.

Dirk K. Martin, Serviceware’s CEO and co-founder, commented: “We want to drive our growth with targeted acquisitions, by addressing large customers to an even greater extent, and by further internationalising our business. The funds from the IPO will enable us to further expand our position as a leading Company in the European ESM market, and to benefit from megatrends such as the digitisation of service processes.”

Harald Popp, Serviceware’s CFO and co-founder, commented: “Serviceware is a software Company run by its founders, and consistently pursues the objective of offering companies the highest performance platform solution from a single source to increase efficiency and budget for service processes. Companies can thus successfully position themselves in global competition with an increasing level of digitisation. The fact that we have once again been able to acquire some of the largest German corporates as customers over the past several quarters shows that we are on the right track.”

COMMERZBANK Aktiengesellschaft and Hauck & Aufhäuser Privatbankiers Aktiengesellschaft are acting as Joint Global Coordinators and Joint Bookrunners.

About Serviceware SE

Serviceware is a leading provider of software solutions for the digitisation and automation of service processes which allow corporates to increase their service quality and to efficiently manage their service costs. Its unique integrated and modular ESM platform comprises the proprietary software solutions helpLine (Service Management), anafee (Financial Management) and Careware (Field and Customer Service Management). Serviceware serves more than 500 customers throughout a broad range of industries which include 9 DAX companies as well as 4 out of the 7 largest German corporates. The Company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17, Serviceware had 285 employees.

For further information see www.serviceware.se.

Media Relations

edicto GmbH

Axel Mühlhaus

Tel. +49(0) 69/905505-52

eMail: serviceware@edicto.de

Disclaimer:

This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities. Any such offer is being made solely on the basis of the securities prospectus published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The information legally required to be provided to investors is contained only in the securities prospectus. An investment decision with respect to the publicly offered securities of the issuer should be made solely on the basis the securities prospectus. The securities prospectus dated 6 April 2018 will be available free of charge on the internet at the website of the issuer (www.serviceware.se) and during normal business hours at the issuer.

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or of the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act”)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

No prospectus has been or will be approved for publication in the United Kingdom in respect of the securities to which this publication relates. Consequently, this publication is being distributed only to, and is directed only at, Qualified Investors (as defined below) who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Furthermore, this publication is only addressed to and directed at persons in member states of the European Economic Area (other than in Germany or Luxembourg) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons who are also Qualified Investors, and (ii) in any other member state of the European Economic Area (other than in Germany or Luxembourg), Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than in Germany or Luxembourg) should not rely on or act upon it.

This publication is not an offer of securities for sale in Canada, Japan or Australia.

Serviceware SE plans IPO in Q2 2018

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

PRESS ANNOUNCEMENT

Serviceware SE plans IPO in Q2 2018

Bad Camberg, 16 March 2018

 

  • Serviceware SE today announced its intention to pursue an initial public offering of its ordinary shares and listing on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in the second quarter of 2018
  • Serviceware is a leading European provider of an integrated software platform in the field of Enterprise Service Management covering all service processes within a company
  • The offering is expected to consist mainly of a primary offering of newly issued shares of Serviceware of approx. € 60 million
  • IPO proceeds will be used to finance growth via M&A, internationalisation as well as a scale-up of the sales force to increase penetration of large enterprise customers

 

Serviceware SE (“Serviceware” or the “Company”) is a leading player in the market for software solutions for the Enterprise Service Management (”ESM”) market. Its integrated and modular software platform with the three proprietary software solutions anafee, helpLine and Careware enables customers to digitalise all service processes within a company, ranging from service management (helpLine) as well as financial management (anafee) to field service management and customer service management (Careware). Given the strong pressure arising from the digitalisation megatrend, Serviceware’s solutions enable corporates to distinguish themselves from competitors by increasing service quality and to realise significant service cost savings through an increase of transparency, efficiency and cost control.

 

First mover advantage in a market disrupted by digitalisation

The ESM market, which covers all internal and external services within a company, is currently still managed to a large extent by manual, mostly spreadsheet based models. Favourable market trends arising from the digitalisation megatrend, the need for cost reduction and the simplification of IT business processes will drive the ESM market and are expected to result in overall market growth of 11.8% (CAGR 2017-2021) according Gartner data. With service being a key factor for differentiation, every corporate, irrespective of size and industry, feels a strong pressure to digitalise its service organisation. Serviceware is the first software company in Europe offering an integrated ESM software platform and is well positioned in the most attractive niches of the market resulting in a significant growth potential.

 

One-stop-shop with an integrated software platform leading to a high lock-in effect and recurring revenues

Serviceware is offering its clients a unique integrated and modular software platform that addresses two highly attractive market segments of the ESM market, namely the automation of service processes as well as the optimisation of service costs. The Company’s ESM platform is highly integrated and allows Serviceware to cater its clients as a one-stop-shop for all aspects of service delivery. Serviceware’s software solutions are highly ranked by independent research providers: anafee is listed in Gartner’s “Market Guide for IT Financial Management” since 2016, while helpLine was awarded as best vendor of IT and ESM vendor by Research in Action in 2018 (“Vendor Selection Matrix – IT und Enterprise Service Management SaaS und Software: Die Top 20 Anbieter in Deutschland 2018”). Given its strong customer proposition and high lock-in effect, Serviceware has a strong retention rate of c. 95%1) (average over the past three years) and realises a significant degree of recurring revenues2) of 60% (fiscal year ending 30 November 2017).

 

Robust and well-balanced customer base

Over recent years, Serviceware has built a broad and well-balanced customer base of more than 500 SME and blue-chip clients predominantly in Germany, Austria, Switzerland and the Netherlands. The Company’s customers include 4 out of the 7 largest companies (by revenue, excluding banks and insurance companies). Most recently, Serviceware was able to gain significant momentum in particular with the highly attractive customer group of large enterprises by acquiring 3 of the 7 largest German companies for its anafee solution since the beginning of 2017.

 

Strong track-record in acquisitions and post-merger integration

Serviceware has demonstrated a strong track record in acquisitions and successful post-merger integration. Having initially started as a vendor of third party solutions, the Company has acquired a suite of proprietary software solutions starting with the acquisition of helpLine (2003), followed by Careware (2012) and anafee (2014). As an example, following the acquisition of anafee in 2014, Serviceware successfully managed to integrate the solution into its ESM platform, unlocking cross-selling potential combined with a comprehensive product overhaul, leading to successful new client wins in 2017 (3 out of the 7 largest German corporates).

 

Attractive financial profile

Since its foundation in 1998, Serviceware has grown revenues with a CAGR of >25% to €44.3m in fiscal year 2016/17 while demonstrating profitability in each year. EBIT increased by 56.6% to €5.6m in fiscal year 2016/17 leading to a strong margin increase to 12.7% (from 9.5% in fiscal year 2015/16). Due to its asset-light software business model, the Company realised a strong Free Cash Flow3) generation leading to a cash conversion4) of 96.2% (94.0% in fiscal year 2015/16).

 

Well-defined growth strategy

Serviceware intends to fully invest the IPO proceeds in its well-defined growth strategy that is based on three pillars:

  1. Increase penetration of large enterprise customers
    Hiring of additional key account managers to increase penetration of large enterprise customers in order to capture the strong demand from this highly attractive customer group and to realise cross-sell potential
  2. International roll-out
    Further internationalisation of the business through expansion in two waves: In a first step that is already ongoing, Serviceware targets the markets Spain, Netherlands/ Belgium as well as the Nordics followed by a second wave to UK, Italy and France
  3. Enhancement of product portfolio through acquisitions
    Serviceware has built a strong and visible acquisition pipeline in the fields of IT solutions (process/ tool automation), Customer Service (Knowledge Management, Messaging) and Non-IT Shared Services (HR, Finance, maintenance, etc.) to execute its M&A strategy. The clear focus is to add complementary solutions to its ESM platform in order to leverage additional cross-sell potential

 

Dirk K. Martin, CEO and co-founder of Serviceware, said: “Serviceware has successfully grown with a revenue CAGR of >25% since its foundation under private ownership. The IPO will allow us to execute our clearly defined growth strategy that is based on the three pillars M&A, internationalisation and increased penetration of large enterprise customers. The funds from the capital increase will enable us to foster our positioning as a leader in the ESM market and leverage the strong momentum imposed by the digitalisation megatrend that corporates face nowadays”.

 

Harald Popp, CFO and co-founder of Serviceware, said: “The digitalisation and automation of service processes are rapidly gaining strategic and economic importance for every corporate, irrespective of industry or size. Through our unique ESM platform we are well-positioned at the forefront of this market disruption. Accordingly, the IPO marks the beginning of the next chapter our success story which began 20 years ago”.

 

Overview of the Offering and use of proceeds

 

Serviceware plans to list its shares on the regulated market of the Frankfurt Stock Exchange (Prime Standard). The offering is expect to consist mainly of newly issued shares from a capital increase in the amount of c. €60 million and an additional secondary component from existing shareholders to ensure sufficient free float. The existing shareholders plan to provide additional secondary shares for a potential overallotment in the amount of up to 15% of the base offering.

 

As of the date of this release, the founders Dirk K. Martin (CEO) and Harald Popp (CFO) hold 97% in Serviceware and are committed to remain long-term shareholders. Ingo Bollhöfer (Non-executive Board Member) holds 3%. The lock-up period will be 12 months for Serviceware and Management/ Shareholders, respectively.

 

The proceeds from the IPO will be used for Serviceware’s growth strategy including further international expansion, M&A to complement the existing ESM platform and scaling up of sales force to increase penetration of large enterprise customers.

 

COMMERZBANK Aktiengesellschaft and Hauck & Aufhäuser Privatbankiers Aktiengesellschaft are acting as Joint Global Coordinators and Joint Bookrunners on the Offering.

 

1) Retention rate = 1- churn rate; churn rate equals the sum of ending maintenance volume which is not (automatically) prolonged divided by the sum of maintenance revenues

2) Recurring revenues include (i) continuing contractual obligations with a term of more than 1 year (ii) license rental by existing customers (iii) individual services on demand ordered by existing customers. The Company qualifies customers as “Existing Customer” if from the point in time the Company generates recurring revenues with a customer more than 1 year after the initial implementation of Serviceware’s product at the customer.

3) Free Cash Flow defined as EBITDA – Capex

4) Cash conversion defined as FCF/EBITDA

 

 

About Serviceware SE

 

Serviceware is a leading provider of software solutions for the digitalisation and automation of service processes which allows corporates to increase their service quality and to efficiently manage their service costs. Its unique integrated and modular ESM platform comprises the proprietary software solutions helpLine (Service Management), anafee (Financial Management) and Careware (Field and Customer Service Management). Serviceware serves more than 500 customers throughout a broad range of industries which include 9 DAX companies as well as 4 out of the 7 largest German corporates. The Company is headquartered in Bad Camberg, Germany. At the end of fiscal year 2016/17, Serviceware had 285 employees.

 

Disclaimer

This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities. Any such offer will be made solely on the basis of a securities prospectus to be published as approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). The information legally required to be provided to investors is contained only in a securities prospectus. The securities prospectus of the issuer will be published after approval by BaFin and will be available free of charge on the internet at the website of the issuer www.serviceware.se and during normal business hours at the issuer.

The information contained herein is not for distribution, directly or indirectly, in or into the United States of America (including its territories and possessions of any State of the United States of America or the District of Columbia) and must not be distributed to U.S. persons (as defined in Regulation S of the U.S. Securities Act of 1933, as amended (“Securities Act”)) or publications with a general circulation in the United States of America. This publication constitutes neither an offer to sell nor a solicitation to buy or subscribe to securities in the United States of America. The securities have not been and will not be registered under the Securities Act and may not be offered or sold in the United States of America absent registration or an exemption from registration under the Securities Act. The issuer does not intend to register any portion of the offering in the United States of America or to conduct a public offering of the securities in the United States of America.

This publication is only addressed to and directed at persons in member states of the European Economic Area (other than Germany and Luxembourg) who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC as amended) (“Qualified Investors”). In addition, in the United Kingdom, this publication is being distributed only to, and is directed only at, Qualified Investors who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (ii) are high net worth entities falling within Articles 49(a) to (d) of the Order, or (iii) other persons to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). Any investment or investment activity to which this publication relates is only available to and will only be engaged in with (i) in the United Kingdom, relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, Qualified Investors. Any other persons who receive this publication in the European Economic Area (other than Germany and Luxembourg) should not rely on or act upon it.

This publication is not an offer of securities for sale in Canada, Japan or Australia.