OpenGate Capital Announces Acquisition of Majority Interest in CoreMedia AG
LOS ANGELES & PARIS--(BUSINESS WIRE)--Nov 5, 2019--
OpenGate Capital, a global private equity firm, announced today that it has acquired a majority interest in CoreMedia AG (“CoreMedia”), a global Content Management and Digital Experience Platform, from Deutsche Telekom Capital Partners and a consortium of private investors. The investment is the sixth in OpenGate’s recently closed, second institutional fund of approximately $585 million. CoreMedia, with over 160 employees, is headquartered in Hamburg, Germany, and has operations in the United States, United Kingdom, and Singapore. Terms of the transaction were not disclosed.
CoreMedia’s suite of offerings blend real-time product information with multimedia marketing content to deliver personalized product messaging across a variety of digital channels. Its solutions are used by companies to increase their digital presence, manage digital asset libraries and enhance their eCommerce platform. CoreMedia’s customers include luxury goods, retail, media, manufacturing, telecom, public sector and other eCommerce businesses around the world. Product innovation is a key area of focus for CoreMedia. OpenGate’s investment will support the company’s efforts to further expand its value proposition leverage artificial intelligence (AI) to automate repetitive tasks and help companies deliver personalized shopping experiences. The partnership will further drive international expansion and global brand awareness.
Andrew Nikou, OpenGate Capital’s Founder and CEO, commented, “We are extremely excited to be partnering with CoreMedia and its talented team as the company enters the next chapter of its growth story. We look forward to supporting the company as it continues to deliver market-leading solutions that enhance the productivity, responsiveness and relevance of digital marketing on a global scale. The investment in CoreMedia represents OpenGate’s on-going commitment to investing in leading technology companies.”
“The pace of digital marketing is increasing every day,” said Soeren Stamer, CEO and Co-Founder of CoreMedia. “Leading companies require agile, open solutions that help orchestrate their brand assets from any source to deliver synchronized digital experiences to any touchpoint – including online, mobile, in-store, out-of-home, programmatic advertising and video. I’m proud of our team and what we have accomplished. This partnership with OpenGate will accelerate our efforts to help companies build and manage truly iconic brands.”
OpenGate Capital sourced CoreMedia through its global origination team led by Joshua Adams, Managing Director; and Rafael Baron, Vice President. The following professionals from OpenGate were responsible for negotiating the investment: Robert Young, Principal; and Michael Song, Vice President. Leading the operations effort will be Marc Veillas, Managing Director; Paul Bridwell, Managing Director; Damian Blazy, Principal; and Jonny Leppin, Senior Vice President.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe with a strategic focus on operational improvement, innovation and strategic growth. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com
View source version on businesswire.com:https://www.businesswire.com/news/home/20191104006038/en/
CONTACT: OpenGate Media Contacts
Alanna Chaffin, Head of Investor Relations & Communications
Telephone: +1 (310) 432-7000OpenGate Business Development Contact
Joshua Adams, Managing Director – Head of Global Origination
Telephone: +1 (310) 432-7000
KEYWORD: CALIFORNIA EUROPE UNITED STATES NORTH AMERICA FRANCE
INDUSTRY KEYWORD: DATA MANAGEMENT OTHER TECHNOLOGY TECHNOLOGY TELECOMMUNICATIONS SOFTWARE
SOURCE: OpenGate Capital
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PUB: 11/05/2019 02:00 AM/DISC: 11/05/2019 02:01 AM