Code & Co. provides Tech & Product Due Diligence to Investcorp Technology Partners ahead of its acquisition of VEDA, a leading HR software and payroll-as-a-service provider
Code & Co. provides Tech & Product Due Diligence to Investcorp Technology Partners (ITP) in preparation for its acquisition of VEDA. Based in Alsdorf, Germany, VEDA specializes in a comprehensive digital suite for HR management, encompassing employee management and development, payroll services, time management, security, and recruitment solutions.
Scope of Work
Code & Co. advised Investcorp Technology Partners on Tech & Product Due Diligence through a detailed evaluation of VEDA’s software architecture and infrastructure, technology stack, cybersecurity measures, and open-source practices. This was followed by an appraisal of VEDA’s product strategy, KPIs, and operational procedures. The process concluded with an evaluation of its engineering team organization, software development methodologies, and its approach to certification and regulatory compliance.
About VEDA
VEDA has been developing software solutions to digitize an employee’s entire life cycle for more than four decades. Digital HR management includes solutions for recruiting, onboarding, personnel management, talent management, learning & development, payroll, personnel deployment planning, and time & security.
The company, headquartered in Alsdorf, has around 170 employees and around 1,200 customers, including MAN and Lufthansa and numerous medium-sized companies. In 2023, VEDA achieved sales of approximately 20 million euros.
About Investcorp Technology Partners
Investcorp Technology Partners focuses on investing in growing, European-headquartered technology companies with proven products and end markets.
ITP targets companies that focus on B2B end markets and solve mission-critical problems. Typically, these businesses have the potential to expand internationally and feature multiple avenues for growth and significant cash-flow generation alongside quality recurring revenue and good revenue visibility. ITP seeks controlling stakes in businesses with around US $10 million or more in revenues and positive EBITDA that require equity investments of between US $20-100 million. ITP typically partners with founders (who remain invested alongside them) to unlock the next level of growth for their businesses.
ITP’s post-acquisition model provides value-added management and oversight support using a mix of financial, operational, and strategic expertise. Supported by its Operating Partners, ITP seeks to be a strategic partner to founders and management teams by providing both human and capital resources to drive accelerated growth (through add-on acquisitions and global expansion by leveraging Investcorp’s truly global reach) and implementing operational improvements.
https://www.codeandco.com/case-studies/tech-product-dd/investcorp-technology-partners-veda/