EQT to take majority stake in Sitecore

EQT agreed to take a majority stake in Sitecore, a provider of customer experience management software. EQT bought the stake from Technology Crossover Ventures and other shareholders in a deal that valued Sitecore at 1 billion euros. The company’s founders are partnering with EQT on the transaction. The transaction is expected to close in the second quarter.

Press Release

Sitecore®, the global leader in customer experience management software and EQT VII (“EQT”) jointly announced that EQT has taken a majority equity stake in Sitecore from its founders, Technology Crossover Ventures and other minority shareholders in a transaction valuing Sitecore at approximately EUR 1 billion. As part of the transaction, Sitecore’s founders are rolling a significant portion of their equity and partnering with EQT for the next phase of growth. Following continued strong growth of more than 30% p.a. in recent years, Sitecore generates revenues of around EUR 200 million at an EBITDA margin of approximately 25%. Sitecore has close to 800 employees across Europe, North America and Asia Pacific.

“For several years, we have been following Sitecore given its leading market position, its strong technology offering and its impressive growth story,” said Morten Hummelmose, Partner and Head of Denmark at EQT Partners A/S, Investment Advisor to EQT. “In close cooperation with management, we want to help Sitecore continue to drive product innovation and expand further into the digital marketing software space. We are convinced that EQT’s industrial network and resources can support Sitecore to capture its full potential,” added Dominik Stein, Partner and Head of Technology, Media and Telecom (“TMT”) at EQT Partners GmbH, Investment Advisor to EQT.

“The partnership and acquisition announced today by EQT and Sitecore is specifically designed to sustain Sitecore’s profitable growth and scale as Sitecore continues to expand at a rapid double-digit pace,” said Michael Seifert, CEO and co-founder of Sitecore. “We are excited that a world class investor such as EQT will become a critical part of Sitecore’s future growth. With EQT and founders as well as management of Sitecore joining forces, we are convinced that Sitecore is set up for continued success in the years to come.”

The transaction is subject to approval by relevant regulatory authorities and is expected to close in Q2 2016.

About EQT

EQT is a leading global private equity group with approximately EUR 29 billion in raised capital. EQT has portfolio companies inEurope, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

For further information, please visit: www.eqt.se

About Sitecore

Sitecore is the global leader in experience management software that enables context marketing. The Sitecore® Experience Platform™ manages content, supplies contextual intelligence, and automates communications, at scale. It empowers marketers to deliver content in context of how customers have engaged with their brand, across every channel, in real time. More than 4,600 customers—including American Express, Carnival Cruise Lines, easyJet, and L’Oréal—trust Sitecore for context marketing to deliver the personalized interactions that delight audiences, build loyalty, and drive revenue.

For more information, follow us at @sitecore or visit sitecore.net.