Fourth successful exit: Walvis sells Syndy yo Icecat
Walvis is an investment fund owned by the John A. Fentener van Vlissingen family. It has sold its interest in Syndy to Icecat. Icecat takes over the majority of the shares in Catalogue Cloud Provider Syndy from existing investors. The purchase price amounts to several millions for 92% of the shares. The founders, Pieter van Herpen (CEO) and Rogier Pennink (CTO) remain in their roles as well as shareholders.
Pieter van Herpen, CEO Syndy: “This partnership offers economies of scale. We have entered a growth phase with Syndy. Icecat has a global network and now we can reap these benefits. We still have to invest in our platform. Exchanging product information is embraced by companies such as Co-op, Makro and other international brands. Merging their overlapping activities is a logical choice.”
Martijn Hoogeveen, CEO Icecat: “Syndy and Icecat strengthen each other in the world of supermarkets: the fast moving consumer goods. Syndy is a good addition to our Product Information Management (PIM) services with its specialty in ‘Retailer Template Mapping’; the manufacturer’s automation of retail orders.
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