Wednesday, September 23, 2015

Fatture in Cloud sells Majority Stake to TeamSystem for €1.5M

Pesaro, 23 September 2015 - TeamSystem, leader in the development and distribution of software and services for professionals and SMEs, has acquired a 51% majority stake in Fatture in Cloud, a Bergamo-based innovative startup founded by the 23 years old Daniele Ratti, that aims to revolutionize the world of electronic invoicing for small businesses and professionals with over 40,000 users acquired in a little more just after a year of operations.

€ 1.5M of initial investment with an earn-out (formula through which the payment of the purchase price of a company or of a share it is bound to certain economic, financial or equity conditions) that will be determined depending on the results that the startup will achieve in the next five years: "Fatture in Cloud - says Federico Leproux, CEO of TeamSystem group - is a strategic pillar for us to manage the interconnected system that streamlines the billing process of SMEs and digitalize it, connecting all the players in the system: from the company, to accountants, up to the bank." A simple and accessible service, downloadable from a store on smartphones and tablets, like any other app.

Despite having acquired the majority shares
TeamSystem decided to leave the young Daniele Ratti at the helm of Fatture in Cloud and to continue on the line of the marketing already developed by startups to date. While guaranteeing greater investment capacity and an already large user base, made by 40% of Italian accounting firms, already customers of the company. A real challenge, the one carried out by the two business realities: "And certainly a gamble to bet on the digitization of the billing process in Italy still set back from this point of view. - Continues the manager - But we want to be proactive and become catalysts of the process of dematerialization of documents, costs saving, reducing bureaucracy, and create transparency for professionals and SMEs. " The experience of Fatture in Cloud consolidates the trend of the Group, always looking for innovative solutions even outside of corporate offices: "Develop it inside would have been longer and less active," adds Leproux. So much so that the startup of Daniele Ratti is not the first acquisition for TeamSystem: "We have always tried to innovate through additional services and acquisitions. For us this means to buy skills, i.e. value. And this approach has paid off: indeed we have grown every year since 2001, despite the crisis. " The company has projected revenues for 2015 of around EUR 260 million, has about 1,800 employees, over 800 selected partners. In the past TeamSystem acquired 85% of the startup H-farm H-Umus for €4M, Tustena, a CRM cloud of the software house Digita and bought the software division Sole24Ore, the leading Italian financial newspaper.