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London-based Investcorp Acquires VEDA

London-based Investcorp Acquires VEDA. A prominent provider of digitally enabled payroll-as-a-service and full-suite HR software in the DACH region. Ralf Graessler, CEO of VEDA, and Investcorp will both stay active with the company. The transaction's terms were kept a secret.

London-based Investcorp Acquires VEDA. A prominent provider of digitally enabled payroll-as-a-service and full-suite HR software in the DACH region. Ralf Graessler, CEO of VEDA, and Investcorp will both stay active with the company. The transaction’s terms were kept a secret.

With about 170 workers and its headquarters in Alsdorf, Germany, VEDA offers a platform solution for digital HR management, encompassing payroll, time and security, hiring, personnel development, and learning management. The company’s objective is to digitise tasks and reduce administrative effort.

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The company serves about 1,200 clients, such as MAN, Lufthansa, and numerous mid-market businesses with 150–5,000 employees. About €20 million was made in revenue by VEDA in 2023.

As VEDA’s first institutional investor, ITP will support the company in expanding its product and service portfolio and fortifying its go-to-market strategy, with a particular emphasis on the rapidly growing cloud business of the company.

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Through add-on acquisitions of businesses offering complementary goods and services, VEDA will be able to broaden its reach within the vast and fragmented DACH HR and payroll markets.

Georg Knoflach, Managing Director at ITP, stated, “Investcorp Technology Partners is pleased to be investing in VEDA, a company that continues to have a leading position in the ca. €3 billion DACH HR and payroll software / services market for SMEs. We were impressed by the quality of VEDA’s products and go-to-market strategy, and we see incredible opportunities to support the Company as it helps more SMEs move their mission-critical HR services to the cloud. We look forward to partnering with CEO Ralf Graessler and the entire VEDA team on this next phase for the Company”.

Ralf Graessler, CEO of VEDA, added: “We are very proud to be bringing in Investcorp Technology Partners as VEDA’s first institutional investor. ITP’s knowledge of our sector and market are unparallelled, and they are the perfect partner for us as we move into our next stage of growth, both in terms of digitalisation and through further acquisitions. VEDA will continue to move from strength to strength under this new partnership as we bring exceptional HR software solutions and services to even more companies in the DACH region.”

After investments in HWG Sababa (cybersecurity, Italy), Zift Solutions (PRM software, USA), and NetRom (software engineering, the Netherlands), VEDA is the fourth global fund from ITP’s Investcorp Technology Partners V.

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About Investcorp

With six business lines including infrastructure, credit management, real estate, private equity, infrastructure, and strategic capital, Investcorp is a prominent global manager of alternative investments. They started out as a leader in private equity in 1982, serving as a conduit between the Gulf and the rest of the world and demanding investments on a deal-by-deal basis due to our strong service culture.

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About VEDA

For creative and cooperative HR management, VEDA provides HR services and solutions. Always relate to the specifications that are important to you, your HR departments, and your business. Every day, their products are used by over 1,200 customers. Their staff members are there to assist you at all times.

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