Quid and Cabel Join Fibonacci Group in Strategic Growth Move
Deal News | Jan 25, 2025 | Apax (Ignore, Duplicate)
Fibonacci Group, guided by Apax Partners, has acquired Quid Group and its subsidiary Cabel from Equinox. This acquisition is part of Apax's strategy to bolster Fibonacci's position as a European leader in financial software. Quid, established in 1987 in Florence, specializes in consumer credit and core banking software. The buyout enhances Fibonacci's portfolio and capabilities, structuring its operations into three key business lines: Specialty Finance, Consumer Finance, and Banking Services. Apax's previous acquisitions of OCS and Finwave complement this latest move, doubling Fibonacci's workforce to over 1,500 employees and revenues exceeding €210 million. Notably, Equinox played a crucial role in Quid's growth, tripling its revenue since 2019. Comments from key figures, including Andrea Pettinelli and Stefano Bertoli, emphasize the strategic value of this acquisition in driving long-term growth and innovation in the financial software sector.
Sectors
- Financial Software
- Private Equity
- Banking Services
Geography
- Italy – Quid is headquartered in Florence, and Equinox is a private equity firm focusing on medium-sized Italian companies.
- Europe – The strategic aim to establish Fibonacci as a leading European financial software provider highlights the broader geographical focus.
Industry
- Financial Software – The article discusses Fibonacci Group's acquisition of Quid and its subsidiary Cabel, part of its expansion strategy in the financial software sector.
- Private Equity – Apax and Equinox are both private equity firms involved in the acquisition and growth strategies of Quid and Fibonacci Group.
- Banking Services – Cabel, a subsidiary of Quid, specializes in core banking software which is a cornerstone of the acquisition.
Financials
- 210 million – The combined revenue of Fibonacci Group after the acquisition of Quid.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Fibonacci Group | Acquiring Company | Company | A financial software group controlled by Apax Partners, aiming to establish itself as a leader in the sector. |
| Quid Group | Target Company | Company | A provider of consumer credit software and core banking solutions acquired by Fibonacci Group. |
| Cabel | Subsidiary | Company | A subsidiary of Quid, specializing in core banking software and banking services. |
| Apax Partners | Private Equity Firm | Company | A private equity firm advising funds that control Fibonacci Group. |
| Equinox | Seller | Company | A private equity fund that previously supported Quid's growth and transformation. |
| Andrea Pettinelli | CEO of Fibonacci Group | Person | CEO of Fibonacci Group, commenting on the strategic value of the acquisition. |
| Stefano Bertoli | CEO of Quid and new President of Fibonacci | Person | Former CEO of Quid and newly appointed President of Fibonacci Group. |
| Gabriele Cipparrone | Partner at Apax Partners | Person | Partner at Apax Partners, providing insights into the acquisition strategy. |
| Andrea Bovone | Partner at Equinox | Person | A partner at Equinox, reflecting on their investment philosophy and success with Quid. |