Heidelberg sold its software subsidiary Docufy on August 31 to the German-based investment firm Elvaston Capital Management in Berlin.
The German printing press manufacturer had acquired Docufy in 2017. By the end of 2019, the German group had added its own peripheral software business in this subsidiary. Docufy, which offers maintenance, quality, security and content management software, has 120 employees.
"As part of our portfolio analysis and focus on our core business, we have come to the conclusion that Docufy's future strategy needs to be supported in a more focused way by a new partner, said Rainer Hundsdörfer, CEO of Heidelberg. We will focus our software business on expanding cloud-based applications and platforms for the printing industry."
This sale results in an exceptional capital gain of more than 20 million euros. " We will use the funds freed up by the sale to continue our digital transformation."
Docufy's CEO Stefan Donat plans to expand his offering by establishing new partnerships and internationalizing his business activities.
