Sidetrade, a global leader in AI-powered Order-to-Cash applications, announced the successful acquisition of 87.85% of SHS Viveon AG, a German credit risk management software leader, marking Sidetrade’s entry into the German market. The acquisition, which ran from May 7 to July 29, 2024, saw Sidetrade AG acquire 2,181,392 shares, increasing to 2,188,135 shares as of August 8, 2024. SHS Viveon AG is set to be delisted from the Freiverkehr market of the Munich Stock Exchange after November 15, 2024. With King & Spalding LLP and ODDO BHF SE advising, this acquisition aligns with Sidetrade’s global ambitions. SHS Viveon, founded in 1991 and headquartered in Munich, specializes in credit risk & compliance management software and reported revenues of €8.8 million in 2023. Sidetrade, listed on Euronext Growth, provides a SaaS platform to predict customer payment behavior and enhance cash flow, serving clients in over 85 countries.
Financial Technology (FinTech), Software, Artificial Intelligence (AI),Germany, France
https://www.globenewswire.com/news-release/2024/08/08/2927247/0/en/Sidetrade-acquires-87-85-of-SHS-Viveon-AG-delisting-set-for-November-2024.html