Delft, the Netherlands and Frankfurt, Germany, 3 September 2022 – Exact, a leading provider of business and accounting software, announces an agreement to acquire weclapp, a leading provider of cloud ERP (enterprise resource planning) software in the DACH region, from 3U Holding (ETR: UUU), a German holding company. weclapp management will remain invested and will drive the business going forward.
Founded in 2008 and headquartered in Frankfurt, Germany, weclapp is the leading cloud-based provider of ERP and CRM software designed for SMEs, serving over 7,000 clients. weclapp uses best-in-class cloud native technology to provide a fully integrated system for clients encompassing CRM, project management, accounting, manufacturing, inventory management, among other areas. The business also recently acquired two businesses, ITscope, a founder-led procurement/B2B trading portal for SMEs, and FinanzGeek, cloud-based software for microenterprises, which have further enlarged the product offering.
Headquartered in Delft, the Netherlands, Exact’s innovative software solutions today help more than 9,900 accountants manage the finances of small and mid-size enterprises and provides over 550,000 small businesses with high value-add solutions in the cloud. Exact’s mid-market ERP solutions are also used by over 16,000 mid-sized firms, with a choice of cloud or on-premise deployment. The company’s integrated software suite includes financial management, logistics, CRM, HR, and payroll.
Since the acquisition by KKR in 2019 and continuing throughout the minority investment by Silver Lake in 2021, Exact has experienced rapid growth and continued to expand its market leadership. As the market and needs of clients continue to evolve, Exact remains committed to innovating and strengthening its products to deliver market-leading technology across its expanding geographies. The acquisition of weclapp enables the company to acquire a best-in-class cloud-based business amid significant growth across DACH in cloud-based SME solutions. Exact will continue to pursue further M&A in the region to drive consolidation and the transition to cloud.
Paul Ramakers, Exact CEO, commented: “weclapp’s team has built a remarkable business that has grown impressively over the years, recognised by multiple industry awards. Combining weclapp’s leading product, strong local knowledge and network with the expertise in cloud-based solutions that Exact has developed over almost four decades, creates a highly compelling proposition across Benelux and DACH for businesses looking to move to cloud software. We’re delighted to be working with Ertan and his team.”
Ertan Oezdil, CEO and Founder, weclapp, commented: “Becoming part of Exact will give us further means and enable weclapp to drive the evolution of our products to meet the growing needs of our clients. We are excited to join Paul and the whole Exact team, who have created one of the leading software businesses in Europe and look forward to being part of their ambitious growth strategy as the demand for cloud-based services continues to accelerate.”