Claranova’s subsidiary Avanquest has entered into exclusive discussions with the US company Encore Software with a view to selling its non-core Home Design business, including the assets of the Architect 3D software.
Encore Software, specializing in software development, sales and distribution, has been a technology partner of Avanquest for many years. Its product offering includes 3D Home Architect, which is similar to Avanquest’s software. This acquisition covers all of Avanquest’s “Home Design” business assets, and more specifically those related to the “Architect 3D” software (code, customer base, domain names, websites, graphic elements, etc.). Encore Software, which plans to continue operating the acquired businesses, could also integrate selected Avanquest’s staff working in this area.
“We are very pleased that Encore Software has expressed an interest in our Home Design activities, and also by their plan for continuing to develop this segment. As a long-standing partner, Encore Software is a natural choice for ensuring the continuity of this business” commented Éric Gareau, CEO of Avanquest
“We believe that acquiring Avanquest’s Home Design business represents a growth opportunity for our organization and will enable a smooth transition for Architect 3D customers – Syed Gilani, CEO of Encore Software
As previously announced[1], this divestment of the non-core activities is part of the ongoing strategy adopted 4 years ago to transformed Avanquest into a SaaS B2C software publisher developing proprietary products and services in the PDF, Security and Photo segments.
The closing of this sale is expected to be completed by the end of July 2023, subject to the fulfillment of all conditions precedent.
[1] Press release of June 6, 2023
« Nous croyons que la reprise des activités « Home Design » d’Avanquest constitue une opportunité de croissance pour notre organisation et assurera une transition simple pour les clients d’Architect 3D » commente Syed Gilani, CEO d’Encore Software
Comme annoncé[1], cette cession d’activités non stratégiques s’inscrit dans la continuité de la stratégie engagée il y a 4 ans pour transformer Avanquest en éditeur de logiciel SaaS[2] B2C[3] dans le domaine du PDF, de la sécurité et de la Photo autour de ses marques propriétaires – SODA PDF, Adaware et InPixio.
La finalisation de cette cession devrait avoir lieu d’ici la fin du mois de juillet 2023, sous réserve de la levée de l’ensemble des conditions suspensives.
[1] Communiqué du 6 juin 2023
[2] Software as a Service
[3] Business to Consumer