Merger of French and Swiss software companies to create Europe’s newest unicorn.
French software company LumApps is set to merge with its Swiss counterpart Beekeeper in a transaction that will establish a new enterprise valued at over $1 billion. LumApps, which refers to itself as an “intranet super app,” provides a platform designed to assist employees in large organizations with managing internal communications and workforce applications.
On the other hand, Beekeeper offers a mobile platform that facilitates engagement with frontline workers through tools like messaging, shift scheduling, and workflow automation.
Together, the two companies aim to create an “employee hub” that encompasses a wide range of job roles, including those of doctors, truck drivers, and customer service representatives.
Once the merger is complete, the new entity is expected to serve more than 7 million users, achieve $150 million in recurring revenue, and employ over 600 individuals, according to a joint press release from the firms.
“Together, LumApps and Beekeeper will support all employees, everywhere, in this new age of work,” stated Sébastien Ricard, CEO and co-founder of LumApps.
The headquarters of the new company will be situated at LumApps’ current location in Lyon, France, with Ricard at the helm.
The deal is anticipated to be finalized this month. British private equity firm Bridgepoint, LumApps’ largest current shareholder, will maintain majority ownership in the merged entity.
If the merger proceeds, it will lead to the creation of Europe’s latest unicorn company. Other firms that achieved a $1 billion valuation this year include the German drone manufacturer Quantum Systems, the Swedish bioscanning company Neko Health, and the no-code app Lovable.
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Merger of French and Swiss software companies to create Europe’s newest unicorn.
French software company LumApps is preparing to merge with its Swiss counterpart Beekeeper, resulting in a new entity valued at more than $1 billion.