German market leader for CPM for Finance strengthens presence in BeNeLux.
Berlin-based LucaNet AG successfully completes the acquisition of long-term Belgian distributor Seefo BVBA to strengthen its international footprint and further expand into Belgium and Luxembourg. The Seefo management team stays aboard, Kristof Vanherle is appointed Managing Director of the new subsidiary.
Today, LucaNet AG (“LucaNet”), a leading financial consolidation, planning, and reporting software business based in Germany, announces the successful acquisition of its Belgian distributor Seefo BVBA (“Seefo”). This transaction marks another important milestone in the company’s growth and ambition to become a global leader for Corporate Performance Management (CPM) for Finance, further strengthening its market position in Europe.
As a 100% subsidiary of LucaNet, Seefo will be renamed „LucaNet“ and cover the Belgian as well as the Luxembourg markets via direct sales activities as well as the expansion of a regional network of sales partner.
LucaNet was founded in 1999 with the vision of developing a software solution that combines planning, controlling, and consolidation in a single tool. Since then, the company has grown to become a leading provider of CPM for Finance worldwide. With more than 3,500 customers in over 50 countries and offices in China, Singapore, and the USA as well as a strong European presence, LucaNet employs around 500 people worldwide.
The Berlin-based company has special ties to the BeNeLux countries. In 2006, the first location outside of Germany was founded in the Netherlands. In the meantime, LucaNet has become one of the most important market players there with customers such as Cegeka, Ahlers, Van Breda Risk & Benefits, DCM, Neuhaus and Upgrade Estate.
The cooperation with Seefo started back in 2016. when the company entered the Belgian market. “Our partnership with Seefo has proven to be very valuable. The Seefo team has demonstrated a very successful sales approach and go-to-market. They have developed an outstanding reputation as absolute experts in consolidation under local GAAP. We are glad that the Seefo shareholders Patrick van Gaelen and Kristof Vanherle, decided to join the LucaNet family – we are very much looking forward to the joint future”, says Elias Apel, LucaNet Board Member.
Simon van Koppen, Managing Director LucaNet Netherlands, also appreciates the collaboration: “Seefo has been an important driver of our customer growth throughout the BeNeLux markets and we are glad the team decided to join our group.”
The two founders of Seefo, Kristof Vanherle and Patrick Van Gaelen, have deep roots in the financial sector. Together, they bring the experience of more than 50 years. Kristof Vanherle, designated Managing Director of the new subsidiary states: “We are excited to join the LucaNet Group. With the help of the knowledge and resources of the LucaNet we can accelerate this growth and strengthen our client base in Belgium and Luxemburg.”
Patrick van Gaelen, designated Regional Head of Services, adds: “We are happy to be part of the global LucaNet family and to strengthen further our position on the Belux market.“
LucaNet was advised by ACE Law (Legal) and Finvision (Financial & Tax). Terms of the transaction are not disclosed.
