Schmitten/Karlsruhe, January 22, 2019 – IDL, a leading provider of corporate performance management (CPM) software, today announced a double-digit million euro investment by LEA Partners, a Karlsruhe-based private equity firm, via its LEA Mittelstandspartner fund.
IDL will thus significantly accelerate the further development of its CPM Suite and further expand its market position beyond the German-speaking region. The IDL CPM Suite offers a powerful platform for sophisticated CPM- and BI solutions. Its scope includes consolidated financial statements, annual and quarterly reports, regulatory filings, e-Bilanz submissions, budgeting, forecasting, management reporting, analysis, dashboards, mobile BI as well as financial, operational and strategic planning.
"The high satisfaction of our more than 850 customers, and the positive assessment of the potential of our CPM Suite by leading industry analysts such as the BARC within their BARC Score Financial Performance Management DACH 2018, prompted us to look for a partner whose support could help us expand our market position significantly faster and establish the IDL CPM Suite as a market-leading solution. In LEA, we are pleased to have found a strong and experienced partner with extensive expertise in the development of growth software companies," said Bernward Egenolf and Harald Frühwacht, managing partners of IDL.
Christiane Wiegmann, Head of Consulting, and Andreas Lange, Head of Sales, who will be appointed as managing directors as part of the transaction: "We are proud to have developed the IDL CPM Suite into a leading solution platform together with our entire team in recent years. The confidence of our long-standing customers in our expertise and the quality of our software solutions prove to us that we are on the right track, which we want to continue consistently together with LEA."
"The entire IDL team has impressively developed the company into its current market position in recent years," says Philipp Hertel of LEA Partners. "We look forward to supporting the IDL team in implementing its growth strategy for the future, and to leveraging our financial software experience and networks built through investments such as BELLIN, a leading provider of corporate treasury solutions."