Mybit Group acquires Egeniq

Description

Utrecht app developer Egeniq will become part of MyBit Group. Egeniq's affiliation is another step in MyBit Group's strategic expansion as the market leader in custom software in the Netherlands.

The addition is part of a buy-and-build strategy and follows previous acquisitions by MyBit Group. Following the addition, MyBit Group has 165 employees.

BDO M&A and BDO Legal guided the transaction by performing the financial, tax and employment due diligence. BDO Debt Advisory assisted Vortex Capital Partners and MyBit Group in obtaining the transaction financing.

The financing is provided by ING and has competitive terms and rates. The financing also responds to MyBit Group's further buy-and-build strategy through a realized acquisition facility.

About Egeniq

Egeniq was founded in 2010 by Ivo Jansch and Peter Verhage. Since then, the developer has worked on hundreds of apps that are used daily by millions of Dutch people. Finding smart, modern solutions to complex technical issues is in the business's DNA. Egeniq works for many A+ clients for whom applications are a strategic part of business operations. For example, Egeniq built apps for media companies such as RTL, the public broadcasters, FD MediaGroep and Pathé, and the developer collaborated on major government apps such as CoronaMelder and CoronaCheck. Egeniq's team consists of over forty experienced developers.

About Mybit

MyBit, founded in 2007, is based at the Media Park in Hilversum and has 70 employees. With experienced development teams, MyBit creates custom software for its partners within various verticals such as healthcare, government, energy, education and retail. In addition, MyBit provides management services, DevOps services and hosting services. Because of its development activities, MyBit is active in the core processes of its customers and thus an elementary partner.

With the earlier addition of DSE Software, Dockbite and Gate51, MyBit Group has created a reliable IT partner of stature that can assist customers in almost all sectors in the Netherlands in developing business-critical software.