Tagetik to Accelerate Strategic Growth with $36 Million Capital Investment

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White Bridge Investments acquires a minority stake in Tagetik, with the objective of supporting: international expansion; product and technology innovation; and accelerating Tagetik’s impressive 35% revenue growth rate.

Lucca (Italy) and Stamford, CT (US)

 

Tagetik, a global provider of enterprise software solutions for performance and disclosure management, financial governance and business intelligence, today announced the successful completion of a capital increase and sale of a minority stake to White Bridge Investments S.p.A..

The $36 million capital investment will enable Tagetik to accelerate growth in strategic international markets, enhance the organizational and commercial structure to support future growth as well as promote product innovation in key areas including cloud, in-memory, mobility and the development of industry vertical and process-specific pre-packaged solutions.

For the year ending December 31, 2013 Tagetik reported record revenues and 25% revenue growth, the 12th straight year of double-digit growth. The growth trend is continuing with 35% year-over-year revenue growth during the first six months of 2014.

The current Tagetik leadership team which has successfully grown the company into a major player in the CPM market will remain in place to drive future growth. In particular, Tagetik announces the appointment of founder Pierluigi Pierallini as Chairman of the Board and of Marco Pierallini and Manuel Vellutini as Co-CEOs.

Bringing in an external investor after so many years of successful self-funded growth is
an important milestone for Tagetik. We are conscious of the tremendous opportunities
available to the company in the coming years and we believe that White Bridge
represents the best partner
to support our expansion in several key markets while
retaining our “Performance with Passion” culture and best-in-class customer satisfaction
ratings
,” said company founder and new Chairman of the Board Pierluigi Pierallini.
“The international network and experience of White Bridge will bring new opportunities to
Tagetik and we all look forward to a strong long-term relationship as we work towards our
common goal of continually delivering the best CPM solutions to customers worldwide”.


We prepared a comprehensive business plan with clearly identified strategic actions
to be implemented in the short to medium term. Among others, we target to increase our
growing market penetration in North America through a significant hiring plan of talented and
experienced local managers, the development of industry specific verticals and other
pre-packaged solutions that position the appeal of our unique platform to key industries such
as financial services and manufacturing
” added Manuel Vellutini, Co-CEO at Tagetik. “This
is a great time to be part of the Tagetik ecosystem and we felt it was important to bring in an
investor that is not looking to redefine our company’s strategy and organization but rather to
help us accelerate the execution of our strategy without disruptions: White Bridge is that investor;
and we are very excited about what we can accomplish together”.

Added Marco Pierallini Co-CEO, “Over the years we have invested in expanding the breadth
of our unified Financial Performance Platform to include the new cloud deployment, SAP HANA
as a supported database, HTML5 for an enhanced user experience and mobile capabilities. In
addition, we expanded our integrated reporting capabilities in the collaborative disclosure
management”
, said Marco Pierallini Co-CEO at Tagetik. “White Bridge understands the value
of our R&D capabilities
and their investment will allow us to accelerate new and innovative
product delivery to our customers”.


Commenting on the transaction Marco Pinciroli, CEO of White Bridge, added, "We are
very excited about Tagetik’s growth prospects as a provider of Software solutions for the CPM
market. Tagetik has invested heavily in the development of the leading unified CPM platform
specifically designed for the office of the CFO. We expect Tagetik will continue to capitalize
on its technological edge to achieve superior growth. Our long-term investment approach suits
well the Company’s needs and vision; we are very excited to partner with such a talented
management team”
.

According to Stefano Devescovi, Co-CEO of White Bridge Investments, “Tagetik has an
impressive financial track record, a great reputation in the marketplace and a loyal customer
base. We will actively support the company’s expansion efforts in the global market. The
additional financial resources will allow Tagetik to better exploit significant current market
opportunities. We look forward to working with the management team to achieve its ambitious
goals”.


About White Bridge Investments
White Bridge is a holding company providing long-term capital, operational know-how and strategic vision to
successful small to medium size Italian companies. Leveraging on White Bridge Investments’ management
long-lasting international experience in the principal investments industry, the company aims at supporting
the value creation of Italian small to medium size champions in the global markets.
White Bridge Investment
was advised by Matteo Delucchi, partner at the law firm Giovannelli e Associati Studio Legale, supported by
Associate Beatrice Riva, and by Deloitte & Touche.

 

Tagetik was assisted by Mario Ortu, Matteo Orsingher, Paolo Canal and the Senior Associate Francesca Flego
from Orsingher Ortu Avvocati Associati, and by Marlin & Associates of New York as Financial Adviser.

News Source : Tagetik to Accelerate Strategic Growth with $36 Million Capital Investment
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