IT & Software
App developer Egeniq joins MyBit Group
Exploring the growth opportunities for Egeniq, that was the starting point when owners Ivo Jansch and Peter Verhage entered this process. Other businesses had shown interest in the leading company before. And they had noticed the developments in the M&A market among similar companies in the industry. In MyBit Group, they found the ideal partner to take the next step in growing Egeniq with.
With a specific niche – mobile app development – and an interesting customer base, including BNR Nieuwsradio (a leading Dutch business radio station), Nederlandse Loterij (the Dutch state lottery), and Schiphol Airport, Ivo Jansch and Peter Verhage met with a great deal of interest. “We met again and again, and went through many scenarios,” M&A specialist Frank Troost remembers. He advised the transaction together with Koen van den Houdt and Sem Hage. “The only scenario Ivo and Peter declined was a 100% sale. They are still full of ambition and are eager to keep playing an active role. Egeniq’s focus remains unchanged, but under the flag of MyBit, the business can continue to grow.”
Expanding service range
That a strategic buyer would be the ultimate candidate, was not a done deal from the start. Frank Troost: “Like any other type of transaction, a pre-exit involves multiple considerations. And Ivo and Peter went over all of them carefully. Overall, MyBit Group offered the best package. Its company culture and DNA are similar, they ‘clicked’, as they say, and both men will continue to manage the expansion of their business within the group. MyBit Group specialises in developing custom software. It acquired multiple companies in this segment over the past years. The cooperation with Egeniq offers an interesting expansion of its service range.”
Together with tech investor Vortex, MyBit Group is executing an active buy-and-build-strategy. CEO Marcel Flipse considers himself fortunate with the addition of Egeniq to his group. “Egeniq is a trail blazer in the development of this type of software and the business fits perfectly into our strategy.” As part of that strategy, Ivo Jansch and Peter Verhage also became co-owners of MyBit Group, expanding their roles as well. “It is great to be able to continue our growth this way. MyBit Group opens up a broad range of services and specialisations to our customers.”
Egeniq distinguishes itself by the high quality of its services and the specialist knowledge of its developers. Its international recognition becomes apparent from the popularity of the developer event it organises every year. Frank Troost: “That event has a great reputation internationally, experts from all over the world attend to share the latest knowledge and techniques in app development. It is doing a great job – in the Netherlands alone, hundreds of its apps are used by millions of people.”