General Atlantic has increased its stake in Odoo to a valuation of €7 billion, reflecting strong growth in the open-source business software sector.

Information on the Target

General Atlantic has increased its investment in Odoo by acquiring an additional minority stake in the open-source business software provider, which is now valued at €7 billion. This follow-on investment involved purchasing shares from Wallonie Entreprendre, the investment arm of the Walloon region in Belgium. Following the transaction, Wallonie Entreprendre will continue to hold a 3% stake in Odoo.

Founded in 2002, Odoo delivers a comprehensive suite of business applications tailored for small and medium-sized enterprises. These applications encompass essential functions, including finance, sales, human resources, and marketing. Odoo's innovative open-core model has facilitated the growth of nearly 40,000 applications, positioning it as one of the largest business software ecosystems globally.

Industry Overview in Belgium

The software industry, particularly for small and medium enterprises (SMEs), has experienced significant growth in Belgium, driven by the increasing demand for digital transformation solutions. With a robust technology