VENCORA UK LIMITED announced the settlement of its public tender offer for all publicly held registered shares of CREALOGIX Holding AG with a nominal value of CHF 8.00 each. This offer was completed successfully on February 22, 2024. And with a proven track record of providing quality solutions to its customers and a history of successful transactions, the acquisition of CREALOGIX greatly expands Vencora’s presence within the banking technology industry.
CREALOGIX was launched in 1996 and was listed on the SIX Swiss Stock Exchange in 2000. Since then, it grew its customer base and serves more than 600 customers in 15 countries around the globe. CREALOGIX has been recognized as a Swiss Fintech 100 company, and its solution set includes CREALOGIX Conversational AI, CREALOGIX Funding Portal and CREALOGIX Lending Origination Hub.
CREALOGIX has become Vencora’s sixteenth brand in its growing portfolio. And under Vencora, CREALOGIX will gain access to new best practices and have ongoing opportunities to network and learn from leaders from the entire portfolio of companies. The Vencora portfolio helps companies and leaders become stronger together.
CREALOGIX will continue operating independently under the leadership of Oliver Weber, CEO of CREALOGIX. And Vencora’s decentralized business model offers its portfolio of businesses the ability to maintain their independence, which allows them to focus on the needs of customers and employees post-acquisition.
Vencora is a global collective of technology companies that is passionate about changing the face of the financial services industry. Based in Toronto, Canada, Vencora acquires, strengthens and grows vertical market technology companies in the banking, insurance and financial services sector.
Following the settlement, Vencora directly and indirectly holds 1,391,622 CREALOGIX shares in aggregate, representing 99.07% of the issued share capital and voting rights of CREALOGIX. And Vencora plans to initiate squeeze-out proceedings and to have the shares of CREALOGIX delisted from SIX Swiss Exchange, and to have CREALOGIX apply for an exemption from certain disclosure and publicity obligations under the listing rules of SIX Exchange Regulation AG.
KEY QUOTES:
“We are incredibly excited to have CREALOGIX become part of Vencora. CREALOGIX is an incredible company with an outstanding team, and we look forward to enabling them with resources and guidance to help drive even greater success.”
“The acquisition of CREALOGIX demonstrates Vencora’s strengthening position within the banking industry and positions us for further growth in the European region.”
– Ateet Patel, Banking Portfolio Manager at Vencora
“We are proud to be now part of the Vencora family. We share Vencora’s value-based culture with a clear focus on investing in our people through continuous learning. CREALOGIX has a proven track record in acquiring companies with a long-term focus and a wealth of experience in acquiring software companies in the banking and financial services sector. Our specialisation in vertical markets with international distribution and our history of successful acquisitions make us a very a good fit for Vencora.”
– Oliver Weber
