May 24 2013, the Hague – We are pleased to announce the successful exit and complete corporate sale of cloud storage software company IASO International BV to GFI software, in a double-digit million euro transaction. GFI is an international SaaS-based software company that provides cloud solutions and services for collaboration, network security, monitoring and archiving to over 200,000 small to mid-sized businesses through a large international partner network.
Dutch technology company IASO provides award-winning cloud-based solutions that enable customers with secure and efficient backup and storage of their digital data. IASO delivers its software solutions worldwide through a network of over 500 international partners and resellers, such as KPN and GFI. In March 2010, IASO received a growth capital injection from Main Capital II. Together with the management, the focus was on transforming the company towards a SaaS-based recurring business model and the roll-out of an international partner and reseller network.
Rene Oldenbeuving, CEO of IASO: ‘’The acquisition is important for the future development of IASO because it will further accelerate business growth based upon the mutual strategies of GFI and IASO. Main Capital contributed to the success of IASO by consistently delivering strategic input and practical experience about growing software companies.’’ Pieter van Bodegraven, Partner at Main Capital and board member at IASO: ‘’During the investment period IASO developed into an excellently positioned cloud-based company with an extremely scalable business model which successfully competes against much bigger software companies. This success attracted strategic interest for IASO and underlines the ability of Main Capital of bringing smaller software companies towards a higher league of strategic buyers.” With this landmark transaction, Main Capital has realized multiple times its cost-price in only a 3-year period and shows the importance of the Dutch software industry internationally. GFI software itself is being backed by several large investment funds.