4teamwork, a Bern, Switzerland-based company specialised in digital business processes in the public administration, received a majority investment from Fabasoft.
The amount of the deal was not disclosed. The participation will take place in several steps. First, the indirect acquisition of existing shares of 21.7% from the previous majority shareholder is planned. At the closing, a capital increase is to take place, which will increase Fabasoft AG’s share in 4teamwork AG to approximately 58.5%. After full implementation of the contract, Fabasoft AG will hold 70% of the shares in the new Fabasoft 4teamwork AG. The closing of the transaction is subject to customary closing conditions and is expected to occur in mid-October 2022. Work on the implementation of the Closing Conditions is already in progress. The previous CEO of 4teamwork AG, Dr. Pascal Habegger, will retain a 30% stake in Fabasoft 4teamwork AG and will promote further expansion in his existing role.
The company intends to use the funds to expand its business across the Swiss market.
Founded in 2003, 4teamwork is an IT service provider for the public administrations of cantons, towns and municipalities in Switzerland. The company currently has more than 30 employees at three locations and recently achieved a turnover of approximately four million francs.
FinSMEs
05/09/2022