• GL
Choose your location?
  • Global Global
  • Australian flag Australia
  • French flag France
  • German flag Germany
  • Irish flag Ireland
  • Italian flag Italy
  • Polish flag Poland
  • Qatar flag Qatar
  • Spanish flag Spain
  • UAE flag UAE
  • UK flag UK

DWF advises start-up Odoo's investors in partial disposition of shares

28 January 2020
DWF has assisted NJJ Capital, Sofinnova Partners and XAnge, in latest investment transaction of Odoo, a Belgian provider of open source business management software, to a group of investors, led by the venture capital fund Summit Partners.
DWF have advised longstanding investors, NJJ Capital, Sofinnova Partners and XAnge on the disposal of half of their stake as part of an investment round which saw US investment fund Summit Partners, the Belgian funds SRIW and Noshasq and the management team join management and current shareholders for EUR 82 million, valuing the company at around EUR 400 million.

This transaction will support the growth and products development of Odoo, a Belgian start-up founded in 2005, which specialises in open-source business management software solutions. The company, which currently employs 750 employees, has offices in the United States, Belgium, Luxembourg, India, Hong Kong and Dubai.

DWF advised NJJ Capital, Sofinnova Partners and XAnge, with a team led by Alexandre Piette, partner, assisted by Vincent Maufront, counsel, and Herine Oualembo, associate, on corporate matters as well as Vincent Lazimi, partner, on tax matters, Florentine Snej, associate (Brussels office), on Belgian law matters, and Daisy Walzel, partner, on competition matters.

Summit Partners was advised by Kirkland & Ellis (Andrej Wolf, James Hunn and Bradley Osborn) and Loyens & Loeff (Mathias Hendrickx and Thomas Van Hoornyck).

Odoo was advised by Nautadutilh (Julie Salteur).