IMAP advises shareholders on the sale of SemVox to paragon
Saarbrücken — The shareholders of the Saarbrücken-based voice control specialist SemVox have sold a majority of their shares to the listed automotive supplier paragon. For EUR 16.4 million, paragon is acquiring 82 percent of the shares in the company and has also agreed options for the remaining shares, which will initially remain with the founders.
SemVox develops efficient and secure technologies and solutions for voice control, multifaceted human-technology interaction, and pro-active assistance systems based on artificial intelligence. The company employs around 60 people and expects sales in the mid-single-digit million range for fiscal year 2018. The already profitable company was founded ten years ago as a spin-off of the German Research Center for Artificial Intelligence. In 2017, SemVox won the Car HMI Special Jury Award. Numerous vehicle types are already equipped with SemVox technology, and this figure is expected to rise to more than 13 million vehicles in the next five years.
Thesellers of the shares are the four founders of SemVox GmbH and four investors. These include the German Research Center for Artificial Intelligence, Saarbrücken, and M. Ladendorf Beteiligung, Trier. The four founders will continue to be involved in the company for a period of at least three years and will take on managing or executive functions. The transaction is expected to be completed by the beginning of October 2018 at the latest.
Listed on the Regulated Market (Prime Standard) of Deutsche Börse AG in Frankfurt a.M., paragon GmbH & Co. KGaA develops, produces and sells pioneering solutions in the fields of automotive electronics, body kinematics and electromobility. With the acquisition of SemVox, paragon creates a new business area for digital assistance systems. Together, paragon and SemVox want to significantly expand the range of integrative solutions. Paragon is thus increasingly developing into a full-service provider for automotive manufacturers.
Consultant SemVox: IMAP
Dr. Carsten Lehmann (photo, IMAP board member), Nils Keller and Atanas Petkov of IMAP exclusively advised the sellers in all phases of the investor process and supported them in successfully closing the transaction within a few months.
Founded in 1973, IMAP is one of the most experienced and largest Mergers & Acquisitions organizations in the world with offices in 35 countries. More than 450 M&A advisors in international sector teams specialize in corporate sales, cross-border acquisitions and strategic financing issues. Its clients are primarily family-owned companies from the midmarket, but also include large national and international corporations as well as financial investors, family offices and institutional investors. Worldwide, IMAP accompanies about 200 transactions per year with a total volume of more than USD 10 billion.