International expansion of Visiativ’s Consulting division
ABGI, an international innovation management and finance consultancy firm that became a Visiativ subsidiary in March 2018 when the Group acquired a majority interest, has signed a letter of intent with a view to acquiring a 93% equity stake in an innovation finance consultancy firm based in Europe.
Currently operating in France, Canada, USA and Brazil, ABGI is expanding into a new country and will increase its workforce by 44 to a total of around 200 employees.
The combination with this new company, which posts revenues of around €5 million and double-digit profit margins, will give ABGI unrivalled expertise in providing support to SMEs, which account for 90% of the target’s 700 customers. This in turn will allow it step up the development of the other companies in the division across a smaller target comprising most of Visiativ’s long-standing customers, particularly in the SOLIDWORKS segment, thereby capitalising on further cross-selling opportunities.