Investment Summary

XAnge and Summit Partners Invest In Odoo

On February 17, 2009, venture capital firm XAnge and growth capital firm Summit Partners invested in internet software and services company Odoo

Investment Highlights
  • This is XAnge’s 1st and Summit Partners’ 12th transaction in the Internet Software and Services sector.
  • This is XAnge’s 1st and Summit Partners’ 1st transaction in Belgium.

Investment Summary

Date 2009-02-17
Target Odoo
Sector Internet Software and Services
Investor(s) XAnge
Summit Partners
Deal Type Venture

Target

Odoo

Louvain-la-Neuve, Belgium
Odoo is a provider of all-in-one, open-source business software for small and medium-sized businesses worldwide. The company thrives in a unique and fully open ecosystem combining the resources of its community and partners to deliver a full range of easy-to-use, integrated and scalable business applications. Odoo was formed in 2005 and has offices in the U.S., Belgium, Luxembourg, India, Hong Kong, and Dubai.

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Investor(S) 2

Investor

XAnge

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 2004
PE ASSETS 450M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

XAnge is an early stage investor in Western European startups focused on enterprise data, financial technology, digital media, and tech-enabled services. XAnge was estbablished in 2004 and is headquartered in Munich, Germany.


DEAL STATS #
Overall 24 of 58
Sector: Internet Software and Services M&A 1 of 15
Type: Venture M&A Deals 11 of 20
Country: Belgium M&A 1 of 2
Year: 2009 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-01 Fidor Bank AG

Munich, Germany

Fidor Bank AG is an online bank currently offering two personal banking products, a current account called the 'Smart Current Account' and savings bonds with terms between 3-36 months. Fidor Bank was formed in 2009 and is based in Munich, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-15 MixCommerce SA

Paris, France

MixCommerce SA focused on the creation and production of websites for their customers and the managment of online sales.

Buy -
Investor

Summit Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1984
PE ASSETS 39.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Summit Partners is a private investment and asset management firm focused on venture, growth, credit, and public equity investing. Sectors of interest include business services, communications technology and services, consumer products, energy, financial services, healthcare and life sciences, industrial products, internet/information services, media/entertainment, semiconductors, electronics, and software. Summit Partners is known for having a proactive business development group for sourcing transactions. Summit will consider both minority or majority investment stakes and is willing to commit as little as $10 million or as much as $500 million in combined debt/junior capital per transaction. The Firm's geographic coverage spans North America and Europe. Summit Partners was formed in 1984 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 198 of 392
Sector: Internet Software and Services M&A 12 of 47
Type: Venture M&A Deals 8 of 34
Country: Belgium M&A 1 of 4
Year: 2009 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Heald College

San Francisco, California, United States

Heald College is a regionally accredited private career college with campuses in California, Oregon and Hawaii.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-12 Mo Industries Holdings

Los Angeles, California, United States

Based in Los Angeles, Mo Industries a contemporary apparel company that features two high-growth, distinctive brands - the Ella Moss(R) brand offers bold, bright, ultra-feminine contemporary apparel while Splendid offers soft, rich luxury basics for women, men, and children. The striking combination of fabrication and design excellence has resulted in instantly recognizable Ella Moss(R) and Splendid(R) products and has contributed significantly to the Company's success.

Sell -