Belgian software and services firm Real Software NV opened its wallet yesterday, buying large stakes in a total of five Benelux software and services firms. The purchase of a 49% stake – which will increase to 60% in two years – in startup Hotrate.com, which will conduct as yet unspecified business-to-business e-commerce activities, marks the firm’s first foray into the internet arena. Further terms of the deal were not disclosed.
The company also took a 51% stake in Luxembourg-based software and services outfit Proget Group, valuing the firm at 10 to 12 times its net income last year. Rough estimates put this figure at around $13m. Real expects to see immediate return on the investment.
Stakes in ASQ, Real Software Finance and Eider Computers Ltd were also increased from 50% in each case, bring Real’s stakes to 75%, 100% and 75%, respectively, at a total cost of around $18m. Real CEO Rudi Hageman told a shareholders meeting last night that the firm’s acquisition of US-based TAVA Technologies Inc will be completed in July, immediately making the US account for up to 40% of the group’s revenues.
