Odoo tops €7 billion valuation as General Atlantic increases stake
Belgian software company Odoo has reached a valuation of approximately €7 billion after a growth investment from General Atlantic. This development signifies continued investor confidence in European tech companies, specifically in the business software sector, and highlights the potential for sustained growth in the region. The increased stake was acquired through a secondary transaction, with General Atlantic purchasing shares from the regional backer Wallonie Entreprendre. The deal did not involve Odoo raising new capital, but instead, General Atlantic bought existing shares. Wallonie Entreprendre, the investment arm of Belgium’s Walloon region, now retains roughly 3% ownership. Founded in Belgium in 2002, Odoo's valuation increase suggests strong market performance and the success of its business model. This transaction reinforces the value of European tech businesses and their ability to attract significant investment. The deal demonstrates the potential for European companies to compete on a global scale, particularly within the software and SaaS markets. Odoo's growth trajectory underscores the increasing focus on digital transformation and automation across various industries. The increase in valuation is a positive sign for the European tech ecosystem. This investment and increased valuation could further increase the confidence of investors in other European software companies.
Curated and translated by Europe Digital for our multilingual European audience.
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