by Fintechnews Switzerland
February 23, 2024
UK based Vencora announced the settlement of its public tender offer for all publicly held registered shares of Crealogix Holding with a nominal value of CHF 8.00 each.
The Offer was completed successfully on February 21, 2024.
With a proven track-record of providing quality solutions to its customers and a history of successful transactions, the acquisition of Crealogix greatly expands Vencora’s presence within the banking technology industry.
Crealogix was founded in 1996 and was listed on the SIX Swiss Stock Exchange in 2000. Since then, it has successfully grown its customer base, and serves more than 600 customers in 15 countries around the globe. Crealogix is recognized as a Swiss Fintech 100 company, and its solution set includes Conversational AI, Funding Portal and Lending Origination Hub.
Ateet Patel
“We are incredibly excited to have Crealogix become part of Vencora,”
said Ateet Patel, Banking Portfolio Manager at Vencora.
“Crealogix is an incredible company with an outstanding team, and we look forward to enabling them with resources and guidance to help drive even greater success.”
Crealogix becomes Vencora’s sixteenth brand in its growing portfolio. Under Vencora, the company will gain access to new best practices and have ongoing opportunities to network and learn from leaders from the entire portfolio of companies. The Vencora portfolio helps its companies and leaders become stronger together.
Crealogix will continue to operate independently under the leadership of Oliver Weber, CEO of Crealogix. Vencora’s decentralized business model offers its portfolio of businesses the ability to maintain their independence, which allows them to focus on the needs of customers and employees post-acquisition.
Oliver Weber
“We are proud to be now part of the Vencora family. We share Vencora’s value-based culture with a clear focus on investing in our people through continuous learning,”
said Weber.
“Crealogix has a proven track record in acquiring companies with a long-term focus and a wealth of experience in acquiring software companies in the banking and financial services sector. Our specialisation in vertical markets with international distribution and our history of successful acquisitions make us a very a good fit for Vencora.”
Vencora is a global collective of technology companies passionate about changing the face of the financial services industry. Headquartered in Toronto Canada, Vencora acquires, strengthens and grows vertical market technology companies in the banking, insurance and financial services sector.
Terms of the Offer
Following the settlement, Vencora directly and indirectly holds 1,391,622 CREALOGIX shares in aggregate, representing 99.07% of the issued share capital and voting rights of CREALOGIX.
Vencora intends to initiate squeeze-out proceedings and to have the shares of Crealogix delisted from SIX Swiss Exchange, and to have Crealogix apply for an exemption from certain disclosure and publicity obligations under the listing rules of SIX Exchange Regulation AG.
Featured image credit: Oliver Weber, CEO of CREALOGIX and Ateet Patel, Banking Portfolio Manager at Vencora