OMADA A/S to Receive Strategic Investment from CVC Capital Partners’ Growth Fund and GRO Capital
Omada A/S (“Omada” or the “Company”), a global leader of Identity Governance and Administration (“IGA”) software and services, today announced that CVC Capital Partners’ Growth Fund (“CVC Growth Partners” or “CVC”) and GRO Capital (“GRO”) have agreed to become new majority shareholders and provide further capital into the Company to accelerate growth.
CVC Growth Partners and GRO will partner with Omada’s management team to further accelerate Omada’s product innovation, grow its partner network in North America and Europe, enhance sales and marketing efforts, as well as continue expanding its strong position in Europe and building greater depth in the North American market.
Omada is headquartered in Copenhagen, Denmark, with over 270 employees across offices in Europe and North America. The Company helps its customers globally to govern and control users’ access rights to enterprise systems and data, reduce risk of accidental or wrongful data access, and ensure compliance with regulation (such as GDPR) as well as industry-specific legislation.
Omada’s software platform, the Omada Identity Suite (“OIS”), is a best-in-class next generation IGA solution. OIS, together with the Company’s unique best practice process framework for identity management and access governance, enables enterprises to manage identities and govern their access on an ongoing basis across heterogeneous IT systems, including major IT vendor platforms delivered on-premises and in the cloud, and a number of legacy and modern applications. The demand for Omada’s offerings has been increasing globally along with customer awareness of potential solutions to their complex identity governance challenges, and the Company has grown revenues at a compounded annual growth rate of over 40% for the last 2 years.
“We are excited about the partnership with CVC and GRO and we look forward to working with them to fulfil our joint vision to serve the majority of enterprises of the world with our strong Identity & Access Governance solution”, said Morten Boel Sigurdsson, CEO and founder of Omada. “CVC and GRO represent a unique combination of competencies that will support our expansion in North America, Europe and other markets. The need for IGA solutions is rapidly increasing across markets as more and more organizations realize the need for a flexible IGA solution to protect them from hacking, insider threats, increased compliance requirements and the consequences of GDPR.”
“The increasingly complex IT world and more stringent compliance requirements globally will continue to drive strong demand for Omada’s next generation identity governance solution, as the Company has proven its ability to successfully solve complex problems for its customers”, said Sebastian Kuenne, who leads CVC Growth Partners in Europe. “Omada represents an exciting opportunity and is a perfect fit for our growth fund, which focuses on high-growth software and technology-enabled business services companies. We, together with GRO, are thrilled to partner with Morten and the entire executive team to expand Omada’s offering and global presence."
“We have followed Omada for close to a decade and are very impressed with the product and their blue-chip customer base. This investment is perfectly aligned with GRO’s strategy of investing in outstanding technology companies and helping accelerate their growth”, said Morten Weicher, partner at GRO Capital. “Morten Sigurdsson has built a very strong team and assembled a deep bench of highly skilled and ambitious individuals operating in a unique culture of teamwork, delivery, and customer service.”
With the entrance of CVC and GRO, C5 Capital (“C5”) will no longer be shareholders in Omada. “We are pleased to have contributed to the growth of Omada since 2015”, said Andre Pienaar, managing partner and founder at C5 Capital.
Morten Weicher, Sebastian Kuenne, Lars Dybkjær (Managing Partner of GRO Capital), and John Clark (Managing Partner of CVC Growth Partners) will join Omada’s board of directors.
Closing of the transaction is anticipated to take place in December 2018, and is subject only to mandatory competition approvals.
About Omada A/S
Omada is a market-leading provider of IT security solutions and services for identity management and access governance. The company's innovative product portfolio delivered as a service and on-premise offers customers an integrated set of core services including identity lifecycle management, compliance control, provisioning, and access risk management across hybrid environments and delivers out-of-the box standardized, configurable IGA capabilities based on industry best-practice processes. Omada provides its innovative identity management and access governance solutions and services to an extensive customer portfolio of large and midsize enterprises globally within banking, utilities, public sector, securities and insurance, healthcare, and other verticals. Omada has a global partner network across Europe, the US, Africa, and Asia. For further information about Omada please visit: www.omada.net.
About CVC Capital Partners
CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 24 offices and over 490 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of over US$110 billion from some of the world's leading institutional investors across its private equity and credit strategies. In total, CVC currently manages over US$50 billion of assets. Today, funds managed or advised by CVC are invested in c.70 companies worldwide, employing c.212,000 people in numerous countries. Together, these companies have combined annual sales of over US$74 billion. For further information about CVC please visit: www.cvc.com.
About CVC Growth Partners
In 2014, CVC formed a new team to target smaller growth-oriented companies through its dedicated CVC Growth Partners fund. The fund focuses on middle-market high-growth companies in the software and technology-enabled business services sectors. The fund primarily targets equity investments between $50 million and $200 million in North America and Europe.
About GRO Capital
GRO Capital is a North European private equity fund with an exclusive focus on mature B2B software and tech enabled companies with strong growth prospects. GRO Capital serves as active owners developing portfolio companies with a view to create long-term value. The partners behind GRO Capital have been investors in more than 20 technology and software related companies. Omada is the first investment in GRO Fund II, a recently raised fund with a strategy to accelerate Northern European software companies. GRO Fund II has in its first closing received capital commitments from institutional investors and multi-lateral organisations, including leading Nordic institutional investors such as Danica Pension, Sampension and Dansk Vækstkapital II. Further, through the European Investment Fund, GRO Fund II benefits from the financial backing of the European Union under the European Fund for Strategic Investments set up under the Investment Plan for Europe. In addition to Omada, GRO Capital has in GRO Fund I invested in Auditdata, Boyum IT Solutions, Tacton Systems, Targit, Trackunit, and Trifork, all successful software providers. For further information about GRO Capital please visit: www.grocapital.dk
About C5 Capital
C5 Capital Limited (C5) is a specialist venture capital firm, focused on Innovative Technologies in Cyber Security, Artificial Intelligence and Cloud Computing. Headquartered in London, C5 also has offices in Washington, Munich, Luxembourg and Bahrain. For more information, visit: www.c5capital.com
Anne Dorthe Gyldenkærne
VP Global Marketing
+45 2018 1881
CVC Advisers Limited
Global Head of Communications
+44 207 420 4240
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
Game of Thrones Winter is Coming™ Launches Worldwide26.3.2019 02:00:00 EET | Tiedote
Yoozoo Games, a leading game developer and publisher, today announced the global launch of Game of Thrones Winter is Coming™ , a real-time strategy PC browser game officially licensed by Warner Bros. Interactive Entertainment under license from HBO®. The game is now available in English, with additional languages to follow. HBO, Warner Bros. Interactive Entertainment and Yoozoo Games have collaborated to recreate Westeros on a massive scale, delivering an authentic and immersive multiplayer world laid out across the Seven Kingdoms – complete with major landmarks and castles from the epic TV series. The story begins immediately following the death of Eddard Stark, when the player emerges as a new Westeros lord or lady in his stead. Strategising starts in earnest in Game of Thrones Winter is Coming as players aim to build an impenetrable base, train a victorious army and recruit faithful followers from a pool of iconic characters. As players progress, they must continue to acquire the mi
Earth Networks Announces Completion of Severe Weather Early Warning System for PAGASA26.3.2019 02:00:00 EET | Tiedote
Earth Networks announced today the completion of the Philippines’ first nationwide severe weather monitoring and alerting network with associated software services for the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA), the National Meteorological and Hydrological Services (NMHS) agency of the Republic of the Philippines. The announcement was made at the 6th annual InterMET Asia conference in Singapore. Initiated in 2017, and formally commissioned this week, the technology partnership between PAGASA and Earth Networks is the first of its kind in the Philippines and surrounding regions, powered by a network of total lightning sensors and real-time automatic weather stations for mesoscale monitoring. Installed and operated together with Philippines partner West Point Engineering, the 10-year program includes: Real-time lightning detection powered by the Earth Networks Total Lightning Network On-the-ground weather monitoring via the Earth Networks W
bluebird bio Statement on European Regulatory Status of LentiGlobin™26.3.2019 01:40:00 EET | Tiedote
A third party press release was issued today stating that the EMA (European Medicines Agency) issued an approval for the conditional Marketing Authorization Application (MAA) for LentiGlobin™, bluebird bio’s investigational gene therapy for the treatment of transfusion dependent β-thalassemia (TDT). LentiGlobin for TDT is scheduled to be reviewed as part of the CHMP (Committee on Human Medicinal Products) meeting from March 25 – 28, however no opinion has been issued by the CHMP. If the CHMP’s opinion is issued it would then be reviewed by the European Commission (EC), which has the authority to grant approval for the use of LentiGlobin in the EU. About bluebird bio, Inc. bluebird bio is pioneering gene therapy with purpose. From our Cambridge, Mass., headquarters, we’re developing gene therapies for severe genetic diseases and cancer, with the goal that people facing potentially fatal conditions with limited treatment options can live their lives fully. Beyond our labs, we’re working
Celgene Submits Application to FDA for Ozanimod for the Treatment of Relapsing Forms of Multiple Sclerosis25.3.2019 23:30:00 EET | Tiedote
Celgene Corporation (NASDAQ:CELG) today announced that the Company has submitted a New Drug Application to the U.S. Food and Drug Administration (FDA) for ozanimod for the treatment of adults with relapsing forms of multiple sclerosis (RMS). Ozanimod is an oral, sphingosine 1-phosphate (S1P) receptor modulator, which binds with high affinity selectively to S1P subtypes 1 (S1P1) and 5 (S1P5). The pivotal efficacy and safety data provided in the application result from the SUNBEAM™ and RADIANCE™ Part B phase 3, multicenter, randomized, double-blind, double-dummy, active-controlled trials. “New oral treatment options with differentiated profiles like ozanimod are needed to help address an unmet need for people with relapsing forms of MS,” said Jay Backstrom, M.D., Chief Medical Officer for Celgene. “With concurrent applications in the U.S. and EU, we look forward to advancing this promising medicine through the regulatory review process to provide a new option for the treatment of RMS in
AVLT and UKTS Announce the European Medicines Agency’s Approval of the Conditional Marketing Authorization Application for Zynteglo™ (Previously Known as Lentiglobin™) Gene Therapy for the Treatment of Transfusion Dependent Beta Thalassaemia25.3.2019 22:50:00 EET | Tiedote
Associazione Veneta Lotta alla Talassemia (AVLT) and the UK Thalassaemia Society (UKTS) announced today that the European Medicines Agency (EMA) has approved bluebird bio’s application for Conditional Marketing Authorization (cMAA) of their product Zynteglo™, a gene therapy for the treatment of adolescents and adults with transfusion-dependent β-thalassaemia (TDT) who do not have a β0/β0 genotype. As a result of this marketing authorisation, Zynteglo™ is now approved for use in all European countries covered by the European Medicines Agency. Zynteglo™ has been given ‘conditional authorisation’. This means that there is more evidence to be submitted, which the company is required to provide under specific obligations. Every year, the EMA will review any new information that becomes available. “People living with transfusion-dependent β-thalassaemia have a reduced life expectancy, requiring life-long frequent blood transfusions that are life-saving but may lead to complications, includin
Historic Partnership between the Weizmann Institute of Science and Institut Curie25.3.2019 19:54:00 EET | Tiedote
On March 22, the Weizmann Institute of Science in Rehovot, Israel, and Institut Curie in Paris, France, two major world-class research institutes, signed an historic partnership that will allow their teams to work closely together to improve knowledge in the field of life sciences, particularly in the areas of physics and chemistry, and most specifically - in the field of cancer research. This is a milestone in the history of these two institutes that have been working together for 15 years, particularly in the field of biophysics. Collaborative research programs This partnership will extend to many disciplines, including physics, chemistry, cellular biology, epigenetics, genetics, immunology and single cell approaches, imagery and data collection. The complementarity of the research between the various groups at Institut Curie and at the Weizmann Institute has been recognized in particular at the occasion of joint scientific workshops held regularly alternatively in Paris and Rehovot.
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme