Information on the Target

Vibbek AG, headquartered in Urdorf, Switzerland, is a prominent player in the payment service industry, distinguished as the only European provider of cloud-based, hardware-agnostic payment terminal software. Founded in 2012, the company developed a fully cloud-based terminal software solution that streamlines the installation, maintenance, and replacement cycles of payment terminals at points of sale. Vibbek serves various sectors, including retail, hospitality, public transportation, parking, and vending machines, and also maintains a subsidiary in Hamburg, Germany.

After Aduno Group's divestiture of its merchant acquiring business to SIX Payment Services AG in August 2017, they found themselves no longer aligned with Vibbek's operational field. Consequently, Aduno Group decided to sell all its equity shares in Vibbek to the management team, ensuring a smooth transition and uninterrupted service for its clients and partners.

Industry Overview

The payment services industry in Switzerland is characterized by rapid technological advancements, with increasing demand for innovative and secure payment solutions. As consumer preferences shift towards digital and streamlined payment methods, companies are compelled to enhance their service offerings, driving competitive differentiation in the market.

Moreover, the cloud-based solutions segment is growing in prominence, as businesses seek flexibility and efficiency in managing payment processes. The increasing adoption of e-commerce and digital transactions further accelerates this trend, paving the way for companies like Vibbek to establish themselves as leaders in this evolving landscape.

Regulatory changes in the payment services sector have also spurred innovation, as organizations adapt to new compliance requirements while enhancing security measures. The need for software solutions that can meet stringent security standards has become paramount, reinforcing Vibbek's position as a trusted partner in the industry.

Despite potential challenges posed by emerging technologies and increasing competition, Switzerland's affluent market offers substantial growth opportunities, especially for companies that prioritize customer-centric innovations and adaptable technologies.

The Rationale Behind the Deal

The decision for Aduno Group to divest its shareholding in Vibbek AG stems from a strategic grasp of core competencies. Having pivoted away from the merchant acquiring services, Aduno recognized that remaining a partner to Vibbek was not aligned with its new operational focus. The sale to Vibbek's management allows the latter to steer the company independently while ensuring continuity in customer service and product development.

Additionally, this transition empowers Vibbek to enhance its market presence without the constraints of external ownership. Having full control over its operations positions Vibbek to innovate further in its offerings, particularly its cloud-based POS terminal management solutions.

Information About the Investor

The management team at Vibbek AG is poised to take the company forward as a fully independent entity following the acquisition. With extensive experience in the payment services sector, the management has been pivotal in developing Vibbek's cloud software solutions and maintaining strong client relations. Their commitment to furthering Vibbek’s technological advancements and maintaining superior service standards will be crucial as they navigate the future landscape of the payment industry.

As Vibbek's new owners, the management team will focus on expanding the functionalities of their offerings while ensuring compliance with the highest security standards and system availability, which are critical to client satisfaction in their industry.

View of Dealert

From an expert perspective, this divestment by Aduno Group may be viewed as a prudent decision, allowing it to concentrate on its core services without being encumbered by a misaligned partnership. The management buyout is likely to foster an environment of agility and innovation within Vibbek, as the team is deeply familiar with the market dynamics and customer needs.

Moreover, Vibbek's trajectory appears promising, given the industry's shift towards cloud technology and the increasing importance of security in payment processing. The management team is well-positioned to leverage these trends, likely leading to enhanced market competitiveness.

The independence achieved through this transaction not only allows Vibbek to innovate freely but also reassures current clients of uninterrupted service continuity. It sets a strong foundation for future growth and potential expansion into new markets.

In conclusion, while the deal marks a transitional phase for both Aduno Group and Vibbek, it presents an opportunity for Vibbek to strengthen its market position and continue its leadership in offering state-of-the-art payment solutions.

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