InSoft Partners acquires minority stake in Lviv IT company Indeema Software

Vitaliy Gorovoy, founder of the Ukrainian investment holding company InSoft Partners, has acquired a stake in the Lviv IT service company Indeema Software. This is reported by Forbes.

We are talking about acquiring a minority stake. At the same time, pre-war multipliers were used in the transaction. However, the exact size of the purchased Indeema package, as well as the amount, were not disclosed.

It is known that the first negotiations on partnership between the parties began at the end of 2021.

"After the start of the war, we agreed that we were not changing our plans, it just technically took a little more time to complete the deal," Gorovoy explained.

InSoft Partners invests in businesses with annual sales of 3 3 million to 1 15 million. In July 2021, Aventures Capital partner Evgeny Sysoev estimated the average Insoft Partners check at INS 1 million.

"After many years of working with portfolio companies, when we owned controlling stakes, made various mergers and acquisitions, I decided that it was also interesting to try myself in a full — fledged portfolio logic, where we own 5-30% in a number of companies," Gorovoy stressed.

With the beginning of a full-scale war, the current deal is already the third for the specified investment holding. After all, on March 31, 2022, InSoft Partners became a partner of other Lviv IT service companies Inoxoft and Linkup Studio. Deals were also closed for peacetime multipliers.

As you know, the main office of Indeema Software is located in Lviv. It specializes in IoT software. Currently, the IT company employs more than 60 people.

InSoft Partners focuses on its shares in the B2B IT service business. The holding is involved in operational processes to scale and increase the value of portfolio companies.