Geodynamics and Sofindev conclude partnership to support further growth and internationalization of Geodynamics

With a view to spur its international growth, Stijn Stragier and Peter Vermeesch, managers and shareholders of Geodynamics, have reached an agreement with Sofindev to become shareholder of
the group.

As a result of this transaction, Sofindev IV acquires a majority stake in Geodynamics.

Stijn Stragier and Peter Vermeesch retain a significant minority stake in Geodynamics and remain in charge as managing directors.

Through the investment of Sofindev, Stijn Stragier and Peter Vermeesch attract a strong financial and strategic partner, with the objective to accelerate the strong growth of Geodynamics, both in its home market Belgium and on an international level.

Stijn Stragier and Peter Vermeesch, managing directors of Geodynamics: “The partnership with Sofindev marks a new milestone in the growth and development of Geodynamics. The Sofindev team has the same no-nonsense approach to business as our team and a vision about the future that perfectly fits with the current needs and ambitions of our company. 12 years after the creation of Geodynamics we have built a strong position in the Belgian market. Now we face the challenge to expand our line of business and to internationalize. With the entry of Sofindev we are equipped to further strengthen our market position in Belgium and to develop our platform internationally.”

stijn-stragier-peter-vermeesc

(Picture: Filip Van Loock)

Jan Camerlynck, Partner Sofindev: “We have been impressed by the quality of the Geodynamics team that built the Intellitracer software-as-a-service (SAAS) platform, which has been the core of the success of Geodynamics to become the undisputed market leader in the market of location based software for registration of mobile workers and vehicles. Stijn and Peter have chosen to team up with Sofindev because they are convinced that this will help them to further develop the important growth potential of Geodynamics, both in Belgium and internationally. We are very excited about the opportunity to join forces with the Geodynamics team and to shape their future in this promising sector.”

Geodynamics was advised by Astrea. Sofindev was advised by Deloitte Transaction Services and Stibbe.

2019-03-05T08:34:08+00:00