MONTREAL, March 26, 2018 /CNW Telbec/ - French company Avanquest (subsidiary of Claranova – CLA / Euronext Stock Exchange) and the group of Canadian high tech companies that includes Upclick, Lulu Software and Adaware, announce their merger and the creation of a major new global Internet player in Montreal
Claranova is a European Internet and mobile leader, with a yearly revenue of over 208 million CAD. Its activities are focused on three areas of activity: digital printing (PlanetArt), Internet of things (IoT) solutions and e-commerce (Avanquest Software).
For its part, the Canadian group of Upclick, Lulu Software and Adaware is based in Montreal, has annual revenue of 44 million CAD realized in over 180 countries and employs more than 150 employees. The activities of the three Canadian companies are focused on these sectors: e-commerce transactions with Upclick (an ultra-modern platformused all over the world for the sale of digital products); document management and PDF applications through Lulu Software (a major supplier of PDF solutions with its SodaPDF software); and Internet security with its Adaware antivirus and security solutions.
Claranova will hold 50.1% of the shares of the new company, which will be call Avanquest. The current directors of the three Canadian companies will act as directors of the new company, and their current shareholders will have two of the five seats on the new board of directors. All employees will keep their current position. The transaction is expected to close on July 1st, 2018.
Synergies and a strategy of growth and acquisitions
This integration will combine Avantquest's existing services in terms of software, cashback and e-marketing with the Canadian companies' innovative solutions in the fields of security (Adaware), PDF tools (Lulu) and e-commerce platforms (Upclick), while also creating additional synergies with other activities of the new company, including providing existing customers with additional service offerings.
"This partnership is very good news for the three Canadian companies employees, as it will give us the means to fulfill our ambitions.", said the current CEO of Adaware and new General Manager of Avanquest, Daniel Assouline. "It will allow us to move forward with strategic acquisitions and increase the growth of our many products and services", he added, before concluding: "furthermore, this partnership is very natural, as Avanquest and our companies had already been collaborating for several years."
For Pierre Cesarini, CEO of Claranova, "the integration of Upclick, Lulu Software and Adaware is a key milestone in the development of our Internet activities. The complementary nature of the activities of the new Avanquest will allow us to create and major actor in the sector, with a focus on monetizing Internet traffic."
About Upclick, Lulu Softwares and Adaware :
Upclick, Lulu Software and Adaware are a Canadian group of companies based in Montreal and founded in 2003 by Daniel Assouline and Michael Dadoun. Lulu Software sells the Soda PDF application and document management solutions. Adaware (formerly Lavasoft) specializes in Internet security and antivirus and security solutions. Upclick is an e-commerce platform used for the sale of digital goods everywhere in the world. The group has more than 150 employees in North America and Europe.
About Claranova :
A global player in Internet and mobile technology, Claranova (www.claranova.com) is one of a very few French goups from this sector with annual revenues over 100 million euros, more than half of which in the US. Under the leadership of its President Pierre Cesarini, Claranova operated a strategic shift centered on three sectors: digital printing through PlanetArt; Internet of Thing through myDevices; and e-commerce through Avanquest Software:
- PlanetArt : global leader for mobile printing, particularly with FreePrints – the cheapest and simplest solution in the world to print photos off a smartphone - FreePrints has already conquered millions of customers, a number steadily growing since launching ;
- myDevices : global Internet of Things management platform allowing large companies, in any sector, to develop and quickly deploy IoT solutions for their customers;
- Avanquest Software : world-leading distributor of third-party software
SOURCE AVANQUEST SOFTWARE
For further information: Philippe Roy, (514) 531-4104, Ryan Affaires publiques