Source: Battery Ventures
BOSTON, July 25, 2017 (GLOBE NEWSWIRE) -- Battery Ventures, a global, technology-focused investment firm, announced it has completed its acquisition of Bonn, Germany-based AED-SICAD, a provider of high-end geographic information systems (GIS) for the public-sector and utilities markets.
AED-SICAD’s solutions provide an array of geospatial planning, resource management and records- administration functions for its customers, which include governments and municipalities, land registry offices and utility providers. The company’s clients include the Municipality of Hamburg, the German Federal Ministry of Defense, the Saudi Electricity Company, and Curacao water and power company Aqualectra, among others.
Utilities, as an example, use AED-SICAD’s products to help them keep track of and monitor their physical infrastructure—including power networks, electric substations, and pipes—while some municipal governments leverage the technology to monitor things like land management, property boundaries and even traffic patterns.
“In its more than 35 years of operation, AED-SICAD has served a large and loyal customer base in the GIS market by continuously delivering innovative software,” said Morad Elhafed, a partner at Battery Ventures. “Battery's additional resources will support increased investment in the company's proprietary technology, as well as in potential complementary acquisitions, to deliver AED-SICAD clients a broad and comprehensive portfolio of GIS applications.”
As part of the transaction, Elhafed, Battery Ventures Vice President Zak Ewen and Battery Ventures Executive-in-Residence Richard Smith will join AED-SICAD’s supervisory board, where they will work closely with the company’s management team to build the company's market share and revenue growth.
“We look forward to this next chapter in AED-SICAD’s growth with Battery Ventures as our partner. The firm’s technology-industry expertise and understanding of our vision provided the perfect complement to our team. Further, their additional resources will help us better serve our deeply valued customers now and in the future,” said Thomas Englert, chief executive of AED-SICAD.
Battery Ventures’ private equity team has invested in many industry-specific software companies like AED-SICAD, a category of companies which generally offer customers highly specialized products as well as high-quality support and services. Current investments include Alogent, Clubessential, ClearCare, CrunchTime, DrillingInfo, Enviance, Forterro and WebPT*.
Terms of the transaction were not disclosed.
*For a full list of Battery investment and exits, please visit: https://www.battery.com/our-companies/list/.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Tel Aviv and London. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
AED-SICAD AG (AED-SICAD), founded in 1982, provides geographic information systems (GIS) applications to the utilities and public-sector markets in Europe, primarily Germany and Austria. The company offers standard applications and tailor-made solutions. Its LM product line is used by cadaster and land-planning offices at the municipal and federal level; LM enables land consolidation, cadaster management, land planning and public-goods management, among other functions. AED’s UT product line is used by electrical utilities for network management and documentation. The company services its more than 300 customers from offices in Bonn, Berlin, and Munich.
CONTACT: Rebecca Buckman Battery Ventures email@example.com 650-292-2077