On 14th October 2021, Symfonia announced acquisition of 100% stake in Cloud Planet, a cloud-based invoicing and document workflow management company
The Company has over 30k customers and offers products supporting the automation of accounting processes, from the stage of issuing and entering documents, to exporting documents to ERP systems or payments as part of bank integrations: The acquisition is in line with Symfonia’s strategy of expanding its cloud offering, and it also highlights Symfonia’s appetite to grow inorganically and consolidate the fragmented enterprise software market in Poland and the CEE region.
Symfonia develops software solutions for business, including ERP software as well as programs for management and automation of finance and accounting, HR and payroll, electronic document flow management, and data analysis.
For 25 years, Symfonia supported digital transformation in Polish SMEs and currently several thousand companies throughout Poland use its solutions.
In March 2021, Symfonia was acquired by Mid Europa Partners, the leading private equity investor in Central and Eastern Europe.
In September 2021, Symfonia acquired Reset2.pl, one of the leading payroll software providers in Poland.
VCP acted as an exclusive M&A advisor to Symfonia and was accompanied by BCGL (legal advisor) and CSWP (financial and tax advisor).
Source: VCP, October 2021