Heidelberg sells DOCUFY software subsidiary
Heidelberg announced that it has sold the software provider DOCUFY GmbH to the investment company Elvaston Capital Management. With the sale, Heidelberg expects an EBITDA margin in a range of 7-7.5% for the full year 2021/22, raised from its previous forecast of 6-7%. The transaction is expected to result in a gain on disposal of more than 20 million Euro.
This is part of Heidelberg’s continued focus on its cloud-based digitization strategy in its core business. In December 2019, Heidelberg had bundled its own peripheral software activities at DOCUFY, which usefully complemented DOCUFY's existing portfolio.
This step will allow Heidelberg to further advance its unique positioning in cloud and data-based software and the corresponding range of different products and services tailored to customers in its core business.
"As part of our portfolio analysis and concentration on our core activities, we have come to the conclusion that DOCUFY's planned strategy for the future can be supported in a more targeted manner by a new partner. We are focusing our software activities on the expansion of cloud-based applications and platforms for the printing industry," said Rainer Hundsdörfer, CEO of Heidelberg. "We will use the funds freed up by the sale to drive forward strategic future investments on the path of our digital transformation."
DOCUFY provides software that develops and sells high-quality software products and solutions as well as consulting and implementation services, training, and SaaS services. The DOCUFY Software Suite enables companies to optimize their processes, from the acquisition of information, to the processing and targeted distribution, to the application of the right information, and thus to contribute to the sustainable success of the company.
"We are looking forward to realizing our DOCUFY 2025 strategy with the help of Elvaston," said Stefan Donat, CEO of DOCUFY GmbH. "This will allow us to further expand our offering for our existing and future customers."