News – Venture Capital & Private Equity practice
3 February 2017
Cresco assisted Itineris NV in the preparation, negotiation and closing of its new EUR 10 million fundraising. This capital round was led by Gimv together with CEO and founder Edgard Vermeersch and ParticipatieMaatschappij Vlaanderen.
The funds will be used to further support the growth and international expansion of Itineris.
Itineris, founded in 2003, is a leading company specialized in operational software and services for the utility industry. The services of Itineris are focused on solutions for billing systems, management of measurement data, market interaction, smart metering, data traffic and customer relationship management. Itineris just finished a very successful 2016 where revenues were up by 24%.
For many years Cresco has advised Itineris on all its capital raising and M&A matters, and provided strategic and operational legal support.
Founder and CEO Edgard Vermeersch comments:
“We are glad to be able to rely on Cresco as Itineris’ trusted legal advisor. The team’s dedication, flexibility, solution-oriented approach and tremendous experience with technology companies delivers enormous added value.”
David Dessers, Tessa Gijbels, Frédérique Joos and Pauline Devos constituted the deal team for this transaction.
More information on this transaction can be found in De Tijd.