Sidetrade Acquires Majority Stake in German SHS Viveon AG
Sidetrade, a global provider of AI-powered Order-to-Cash solutions, has acquired a majority stake in German credit risk management software company SHS Viveon AG. The deal marks Sidetrade's entry into the German market.
Sidetrade, a global leader in AI-powered Order-to-Cash (O2C) applications, has completed the acquisition of a majority stake in SHS Viveon AG, a German software company specializing in credit risk management.
The transaction, finalized through Sidetrade's subsidiary Sidetrade AG, saw the acquisition of 2.18 million shares in SHS Viveon AG, representing 87.85% of the company's capital. As a result, SHS Viveon AG is scheduled to be delisted from the Munich Stock Exchange's Freiverkehr market on November 15, 2024.
This acquisition signifies Sidetrade's first move into the German market, aligning with its strategy to strengthen its global position in the O2C sector. Founded in 1991 and based in Munich, SHS Viveon AG develops software designed to help businesses automate the identification, assessment, and hedging of risks.
In 2023, SHS Viveon AG reported revenues of €8.8 million. The company serves a client base of 80 businesses, including Fortune 100 companies. Sidetrade was advised by King & Spalding LLP as legal counsel and ODDO BHF SE as financial advisor for this transaction.