Helsinki-headquartered M&A software firm Midaxo has raised 3.6 million euros investment from Finnish Industry Investment, EOC Capital, and others for product development and for expanding its presence in the United States and Europe.
Midaxo’s cloud software helps acquirers succeed in mergers and acquisitions by driving an efficient end-to-end process from target identification and due diligence to integration. It helps acquirers systematize and simplify their M&A activity and minimize risks in deals that are often strategic, complicated, and time-critical.
Midaxo’s almost one hundred customers are in the United States and Western Europe. The company’s public references include ADT, Hewlett Packard Enterprise, Hitachi Rail, Philips, and PTC, among others.
There are over 100,000 mergers and acquisitions in the world on a yearly basis, and their total value is up to 4,000 billion euros, and over 70 percentage of mergers and acquisitions fail and do not meet the set targets.
“With Midaxo, it is possible to manage M&A activity more effectively than with Excel sheets or other separate office software that are currently widely used for this purpose. We are investing in Midaxo because the company has a great potential of becoming a global market leader in this rapidly growing segment,“ said Keith Bonnici, investment director at Finnish Industry Investment.
Midaxo aims to double its headcount to 60 by the end of 2017, hiring new developers for the Helsinki office and expand the sales and marketing teams in the Boston office.
EOC Capital said it sees the need for the software also from the client’s perspective having experience of more than 100 transactions. “It is easy for us to see how significantly and concretely acquirers can improve their complex deal activity and capture synergies quicker with Midaxo,” said Anders Brenner from EOC Capital.