Claranova - Simplifying the corporate structure
Claranova has raised new funds of €65m via an equity issue to two new institutional shareholders and a convertible bond and plans to use these to partially fund the buyout of the Avanquest minority shareholders. Taking full ownership of Avanquest simplifies the group’s corporate structure and gives management full control over the future of the division. As well as adjusting our forecasts to reflect these transactions, we have reduced our FY21 revenue and EBITDA forecasts to reflect Q421 performance. Management reiterated its FY23 targets for revenue of €700m and an EBITDA margin of 10%.Claranova SA, formerly Avanquest SA, is a France-based holding company engaged in the technology industry. The Company operates through three businesses including Avanquest Software, that develops, publishes and markets Personal Computer (PC) software products in several categories, including system utilities, home graphics, digital imaging and small business solutions; the PlanetArt business operates a print-on-demand platform, which features five brands covering both Website and mobile application technologies. Among its applications is FreePrints, a mobile photo printing solution for iOS and Android. The Company also operates through myDevices business, which enables enterprises to design, prototype and commercialize Internet of Things (IoT) solutions through Cayenne, a drag-and-drop IoT project builder. Claranova SA offers its products and services in approximately 100 countries worldwide.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.