DISRUPTION GETS ITS DUES WITH SODEXO ACQUISITION OF XXIMO
Famous for its XXImo mobility cards, the Dutch XXImo FinTech start-up has been acquired by the French listed multi-national company Sodexo.
The deal, facilitated by IMPROVED Corporate Finance supported by LD&A Jupiter Amsterdam JV, was concluded in mid-March 2016. Acting as exclusive advisor, IMPROVED Corporate Finance advised XXImo during a stringent selection process. A raft of international companies had been showing keen interest in the company, reputed for its innovative digitisation of travel expenses.
The powerful global outreach of Sodexo will provide a platform for XXImo to expand, from its HQ in Den Bosch, a southern Dutch city, with founders Patrick Bunnik (CEO) and Lex Broekhuizen (CFO) remaining in position.
Friedwart Barfod, Founding Partner of shareholder Tendris Holding remarked: “it’s a great pleasure for us all to build a future with such a great company as Sodexo, sharing the same values. We thank the IMPROVED Corporate Finance Team for their support, the quality of their work and the creativity we needed at various times during the process”.
The Managing Partner of LD&A Jupiter and IMPROVED Corporate Finance, Frank Verbeek, expressed his delight “to have worked for a disruptive company like XXImo, enabling it to further grow under the wings of Sodexo.”