Leading growth investor Synova is delighted to announce that funds managed by Resurgens Technology Partners have acquired portfolio company Avantra (formerly Syslink AG), delivering a 4.5x return for the Fund. Syslink AG was founded in Basel, Switzerland and this exit represents Synova’s first exit from a European based investment.
Avantra provides the market-leading AIOps software platform for the SAP ecosystem, allowing clients to both monitor and automate SAP infrastructure using artificial intelligence, significantly reducing the costs and complexity associated with running mission-critical SAP systems.
Synova has supported the Company through a period of transformational growth which included entering the North American Market for the first time. Following the establishment of a US based sales force, significant revenues are now derived from the US where clients include several of the Fortune 500 companies. Annualised Recurring Revenue (“ARR”) has grown substantially since investment with the Company achieving market leading SaaS metrics.
The sale of Avantra is Synova’s fourth exit of 2024, with an average MOIC of 5.3x achieved across those transactions.
