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Divestiture of Longview enhances strategic focus of Exact

Delft, July 1, 2014 - Exact announces an agreement to divest Longview to Marlin Equity Partners for an undisclosed amount. Longview, based in Canada, was acquired by Exact in 2007.

Erik van der Meijden, CEO of Exact: "The software industry is changing at an ever-accelerating pace. To be successful, we need to sharply focus on our core activities. At the beginning of this year, we announced a strategic review of the five business units of Specialized Solutions. Based on our review of the business of Longview, we concluded that it lacked strategic fit. The divestment of Longview now further enhances our focus and commitment to our growth strategy. I am confident that the new ownership will offer Longview good opportunities." 

Longview Solutions provides a corporate performance management (CPM) and tax data management platform that the world’s largest companies use to drive performance with speed, visibility and financial integrity. Since 1994, Longview has been helping clients with all or any one of the following key financial processes: planning, budgeting, forecasting, modeling, statutory consolidation, management reporting, profitability analytics, tax data collection, tax task management, tax planning and tax provision and reporting. 

Marlin Equity Partners, a global investment firm with over $3 billion of capital under management, is among the more active acquirers of technology businesses and corporate divestitures. Shawn McMorran, a partner in Marlin’s London office, stated: “We are committed to providing the strategic and operational resources necessary to support Longview in accelerating its already robust product portfolio, and further expanding globally. We look forward to working closely with Exact through the transition.”

Exact will decide on the use of the proceeds and will report on that with the announcement of its half-year earnings on August 1, 2014. Canaccord Genuity acted as the exclusive financial advisor to Exact for the divestiture of Longview.

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About Exact

Exact is a leading global supplier of business software. Since we began in 1984, our focus has shifted from supporting financial processes to providing a complete ERP offering for small and medium-sized businesses. Innovative solutions such as Exact Globe Next, Exact Synergy Enterprise and Exact Online support over 100,000 customers – local and international companies – in the daily management of their business.

Exact develops industry-specific on-premise and cloud solutions for manufacturing, wholesale and distribution, professional services and accountancy. Exact is headquartered in Delft, the Netherlands, and has been listed on the NYSE Euronext Amsterdam since June 1999. The company booked revenues of € 213 million in 2013.

 

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $3 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company's outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 75 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

 

Media Relations

Jelle Zuidema 

T: +31 (0)15 711 5462 

M: +31 (0)6 4179 4588

E: jelle.zuidema@exact.com 

 

Investor Relations

Michel Hülters

T: +31 (0)15 711 5208 

M: +31 (0)6 55862237

E: ir@exact.com 

 

Exact Holding N.V.

P.O. Box 5066

2600 GB Delft

The Netherlands

Tel: +31 (0)15 711 5000

Fax: +31 (0)15711 5010

www.exact.com

 

 

Jelle Zuidema

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