Claranova Group: Avanquest Completes the Disposal of Its Non-core Activities in Europe and Accelerates Its Growth as a Provider of SaaS software solutions1

PARIS--(BUSINESS WIRE)--Regulatory News:

Avanquest, Claranova Group's (Paris:CLA) software publishing subsidiary, announces the completion of the sale of its non-core activities in Europe in the paper distribution and architectural software sectors (marketed mainly under the Architect 3D brand).². This marks an important milestone in the division's transformation which is now fully focused on its high-value-added SaaS solutions.

The paper distribution business, marketed under the Micro Application brand, was sold to a new company created by two former employees, who will acquire all corresponding assets. As for the HomeDesign software business, it was sold to the company Encore Software LLC, a long-standing partner of Avanquest specializing in consumer software.

These divestments were carried out as part of Avanquest's ongoing transformation into a provider of SaaS solutions built around its portfolio of proprietary brands in the PDF (with SODA PDF), Security solutions (with Adaware) and Photography (under the InPixio brand) segments.

Avanquest is actively investing in the technological development of its proprietary solutions involving numerous innovations, particularly in Artificial Intelligence (AI). It is also in the process of deploying its complete range of solutions, both online and on desktop and mobile platforms. Building on its strong presence in the BtoC (Business to Consumer) sector, Avanquest also intends to address the BtoB (Business to Business) market by integrating new functionalities to enhance its solutions.

Avanquest has already generated significant growth in revenue in all three of its key sectors of more than 23%³ since the beginning of the calendar year, compared with the same period last year. This positive momentum has been accompanied by a significant improvement in margins only strengthened by the recent disposal of non-core businesses. As a result, Avanquest now benefits from a solid asset base and promising growth prospects for the years ahead.

Financial calendar:
November 8, 2023: Q1 2023-2024 revenue:
November 29, 2023: Combined Ordinary and Extraordinary Annual General Meeting

Telephone number for individual shareholders available from Tuesday to Thursday between 2 p.m. and 4 p.m. for calls within France: 0805 29 10 00 (local rate).

About Claranova:

As a diversified global technology company, Claranova manages and coordinates a portfolio of majority interests in digital companies with strong growth potential. Supported by a team combining several decades of experience in the world of technology, Claranova has acquired a unique know-how in successfully turning around, creating and developing innovative companies.

Claranova has proven its capacity to turn a simple idea into a worldwide success in just a few short years. Present in 15 countries and leveraging the technology expertise of its 800+ employees across North America and Europe, Claranova is a truly international group, with 95% of its revenue derived from international markets.

Claranova’s portfolio of companies is organized into three unique technology platforms operating in all major digital sectors. As an e-commerce leader in personalized objects, Claranova also stands out for its technological expertise in software publishing and the Internet of Things, through its businesses PlanetArt, Avanquest and myDevices. These three technology platforms share a common vision: empowering people through innovation by providing simple and intuitive digital solutions that facilitate everyday access to the very best of technology.

For more information on Claranova group:
https://www.claranova.com or https://twitter.com/claranova_group

Disclaimer:

All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

¹ Software as a Service
² See press release dated July 6, 2023
³ Unaudited figure - Cumulative revenue growth for the 3 segments (PDF, Photo and Security) over the period January to September 2023

CODES
Ticker :  CLA
ISIN : FR0013426004
www.claranova.com