VISIATIV : DEVELOPMENT OF INTERNATIONAL CONSULTING ACTIVITIES: ACQUISITION OF THE BRAITHWAITE COMPANY BASED IN CANADA AND IRELAND

Lyon, 19 July 2022, 6:00 p.m. Visiativ, a digital transformation and innovation expert for small and medium-sized businesses, is listed on Euronext Growth in Paris (FR0004029478, ALVIV).

Visiativ announced the acquisition of Braithwaite, the innovation financing consulting firm based in Canada (Toronto) and in Ireland (Dublin). This acquisition will strengthen the management and financing consulting activities of the Visiativ group (under the ABGI brand) in North America (Canada - Ontario) and will provide the group with a new presence in Europe (in the Republic of Ireland). Bringing together around 30 consultants, Braithwaite generated revenue of CAD 2.5m (€1.9m) in 2021.

For nearly 30 years, Braithwaite has been supporting major companies in all business sectors in financing their R&D in Canada (Scientific Research and Experimental Development (SR&ED) and in Ireland (R&D Tax Credit) to promote their innovation and development.

This new acquisition will enable the strengthening of the local and international presence of ABGI thanks to the acquisition of one of the global pioneers in the business with a strong reputation with both customers and Canadian taxation and grants authorities.

Since 2017, ABGI has been present in the United States (Houston), Brazil (Sao Paulo) and in Canada (Montreal). In 2019, the group continued its international expansion with the acquisition of Jumpstart and MSC Associates in the United Kingdom, as well as IFTC in Northern Ireland. Since 2021, ABGI has been present in Germany with the German pioneer in innovation financing, Partner Für Innovation & Förderung (PFIF).

Braithwaite generated revenue of around CAD 2.5m (€1.9m) in 2021, as well as profitability on a par with that of ABGI.

The acquisition of 100% of the capital of Braithwaite, which will be consolidated from 1 July 2022, was agreed to be fully funded from cash.

Bruce Braithwaite, Founder and Chairman of Braithwaite, declared:

“ We are delighted to join the teams at ABGI and Visiativ, who will enable our company to continue its development, enshrining similar values to those our company and our employees have always upheld: ethics, service quality and customer satisfaction. We share the same vision of our business in the service of innovation and corporate funding.”

ABOUT VISIATIV
Visiativ's mission is to make digital transformation a performance lever for companies. We do this by co-building alongside our customers, over the long term. We call this our promise: "Sharing, is growing".
We support our customers by providing solutions and services to plan, implement, manage and monitor transformations with a unique and innovative approach through three pillars: Consult (consulting & support), Engage (solutions & deployment) and Connect (communities for exchange and sharing). With over 35 years of proven experience working with more than 21,000 Small & Mid-Market customers, Visiativ has achieved revenues of €214 million in 2021. Visiativ is present in 11 countries (Belgium, Brazil, Canada, France, Germany, Luxembourg, Morocco, the Netherlands, the United Kingdom, USA and Switzerland) and has more than 1,100 employees.
Visiativ (ISIN code FR0004029478, ALVIV) is listed on Euronext Growth in Paris. The share is eligible for PEA and PEA-PME.

For further information visit www.visiativ.com

Source Actusnews