CLEVR, a Netherlands-based SwaS startup, announced the acquisition of Digitread, a company that deals in Product Lifecycle Management (PLM) system integration and a platinum-level solution partner of Siemens, for an undisclosed amount.
PLM help in process optimisation, big data information integration and utilisation to produce a sturdy digital backbone and maximise operational excellence, CLEVR’s press note read.
Why This Acquisition?
With this strategic acquisition, CLEVR is looking to expand geographically and vertically within the industrial, manufacturing, marine and energy industry. The deal is funded by CLEVR’s majority shareholder, London-based Volpi Capital.
“Digitread enables us to combine PLM rock stars with CLEVR’s low-code Mendix champions,” said Angelique Schouten, named CLEVR CEO in March. “-We’ll combine Digitread’s high-touch approach with CLEVR’s high-tech expertise and help manufacturing companies across the globe complete their digital transformations by offering off-the-shelf solutions and highly specialised consultancy services,” she added.
Headquartered in Norway, with offices in Germany and Lithuania, Digitread claims to have more than 100 customers including companies such as Kongsberg, Nexans and OneSubsea.
“Everyone at Digitread is excited about working shoulder to shoulder with CLEVR,” said Magnus Normann, Digitread’s CEO. “PLM systems are product biographers. PLM is the process of managing a product and data from concept through design, manufacturing, service and finally disposal,” he added.
“With the help of monitoring tools, they convey detailed digital stories about products to managers, enabling them to increase sustainability, identify weaknesses, perform preventative maintenance, refine product performance or inform them on how to build new products. Low-code and no-code technology will help tell that story. The combination of skills and knowledge is good news for our customers,” Magnus said.
About CLEVR
CLEVR is the low-code and no-code Software-with-a-Service (SWAS) solutions provider. CLEVR operates in 17 countries with a team of 230 people and supplies over 400 customers, including Continental, ING, eXp Realty, Siemens, Rituals, Cargolux, Nutricia, Etos, Eneco, Stella Fietsen, Mondi Group and T-Systems with solutions, services and tooling.
Volpi Capital has been supporting CLEVR’s buy-and-build strategy since 2019.
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