(1888PressRelease)
October 18, 2007 - Budapest, Stuttgart, London – IND Group, one of the leading software houses in banking front-office technology in Europe and the Middle East has granted a minority stake to Euroventures III LP for up to 4 million euro. The funds will be utilised to support the continued growth of IND’s product development and regional expansion plans.
IND Group, over the last five years, has generated 550% revenue growth in its international market niche. The engine of growth has been product innovation, the dynamic increase of international sales as well as successful acquisitions. The founding shareholders along with the Company’s strong and professional management team seek to focus on the Banking Front-Office product range and become a market leader within this segment. Consequently, they concluded a capital increase with Euroventures, an internationally prestigious and well-experienced investor.
IND’s strategy is to become a market leader in Europe and the Middle East for Banking Front-Office software in the next three to four years. It strives to realize this goal through continuous product innovation. “This broadened financial leeway will enable us to expand in emerging markets and to extend our product portfolio by investing into product development. Our primary expansion strategy is to establish successful business partnerships focusing on local software integrators with expert banking know-how in Europe and in the Middle East financial centers. While accelerating our organic growth, we are continuing our acquisition strategy and are actively searching for outstanding investment opportunities in our target markets.” said Roland Pecsenye, CEO of IND Group.
The growth of IND Group and the professionalism of the management team, were key factors that influenced Euroventures’ decision to invest. The Investment Fund, currently participating in several success stories in the region, supports IND Group’s strategy of concentrating on the integration of banking sales channels, and believes that it is realistic to imagine that IND Group is going to become the leading supplier in the region during the coming 3 to 4 years “The founders have committed themselves to building a power-house European software firm built upon the strength of their human resources. Euroventures sees great potential in this company” - said Péter Tánczos the representative of Euroventures
About IND Group:
IND Group, with its unique philosophy for “The Banking Front-Office Technology”, is one of Europe's leading providers of multi-channel financial transaction and security solutions.
With an integrated, component-based development approach, IND Banking Front-Office software architecture enables financial institutions to orchestrate their unique front-office banking, to intensify contacts and transactions on their channels while improving customer loyalty through seamless services and satisfaction. IND solutions also boost cross- and up-selling, help banks win profitable new customers/segments and significantly reduce the time of application, disbursement and queuing. The solution covers branch, internet, mobile and call-center banking on the same platform.
With a foundation of profitable growth since its inception in 1997, the Group is operating now from a half-dozen European cities: London, Vienna, Stuttgart, Munich, Budapest and Miskolc.
For more Information on IND Group and its products please visit the website: www.indgroup.eu.
About Euroventures:
Euroventures is one of the leading CEE based private equity firms, active in Hungary and the CEE region since 1989. The Company has been the first, or the lead institutional investor, in regional success stories like Euronet, Uproar, EPAM, Enigma, and Sky Europe over the last decade. The current investment program is Euroventures III, investing into expansion and buy-out opportunities with excellent management teams requiring equity of EUR 2 to 8 million. Shareholders include ABN AMRO Capital, EBRD, EIF, Lombard Odier Darier Hentsch and a Hungarian pension fund of AXA Hungary.
For more information please visit our website at www.euroventures.hu.
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