Itineris: Founder Edgard Vermeersch Retains Stake Amid Sale to Cobepa
Deal News | Jun 23, 2025 | Eagle Venture Partners OOO
Belgian technology company Itineris, which specializes in software solutions for energy and water utilities, has seen a change in its investment landscape as Gimv and other financial investors sell their stakes to Cobepa. The company, founded by Edgard Vermeersch in 2003, is focused on growth, internationalization, and innovation. Since Gimv's investment in 2013, Itineris has expanded beyond the Benelux region to the US and UK. Notably, its software is used by major US cities. Despite Gimv's exit, Vermeersch remains a significant investor, and Itineris is expected to generate over 100 million euros in revenue by 2025. The transaction positively impacts Gimv's net asset value, though specific financial details remain undisclosed.
Sectors
- Technology
- Energy & Utilities
- Private Equity
Geography
- Belgium – Itineris is a Belgian company founded by Edgard Vermeersch.
- United States – Itineris has expanded its operations into the US, where its software solutions are used by several large cities.
- Benelux – The home region where Itineris initially experienced growth.
Industry
- Technology – Itineris operates in the technology sector, developing innovative software solutions for utility companies.
- Energy & Utilities – Itineris focuses on providing solutions to energy and water utilities to enhance operational efficiency and achieve environmental goals.
- Private Equity – The transaction involving Gimv, a private equity firm, and its stake sale in Itineris to Cobepa highlights an activity within the private equity sector.
Financials
- Slightly less than EUR 1 per share – Positive impact on Gimv's net asset value as of 31 March 2025.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Itineris | Target Company | Companies | A technology scale-up providing software solutions for energy and water utilities. |
| Gimv | Selling Company | Companies | A private equity and venture capital firm that invested in Itineris. |
| Cobepa | Bidding Company | Companies | A private equity firm acquiring a stake in Itineris. |
| Edgard Vermeersch | CEO & Founder | People | Founder and CEO of Itineris, retaining a significant stake in the company. |
| Opinum | Other Company | Companies | A Belgian software company acquired by Itineris to bolster its data platform offerings. |