Ashcombe advises Sqills on its sale to Siemens
Ashcombe has advised the Founders of Sqills on sale of the business to Siemens
Sqills is a leading Software as a Service (SaaS) provider for inventory management, reservation, and ticketing software to the rail & bus industries
The agreed purchase price was €550m plus an undisclosed earn-out
The partnership will give Sqills the opportunity to accelerate its international development to win market share beyond Europe
Ashcombe is pleased to announce that it has advised the Founders of Sqills on a sale of the business to Siemens for €550m plus an earn-out.
Sqills, a company based in the Netherlands, is the leading provider of cloud-based inventory management, reservation, and ticketing software to public transport operators around the world. Its outstanding and scalable S3 Passenger platform enables rail and bus operators to replace their legacy reservation systems with a state-of-the-art, online booking system that increases the utilisation and availability of passenger transportation.
The acquisition will allow Siemens Mobility to add an important digital solution to its software portfolio and bolsters its ability to provide the products and services that helps increase the overall usage and convenience of public transportation.
Simon Bullivant, Founding Partner of Ashcombe, commented:
“Sqills is a first-class business, team and product with huge potential. A business like this generates a huge amount of interest and we have worked with Sqills over a number of years considering their options. We are delighted to have found a partner that will be able to support the team in achieving the potential it has globally”.
The Sqills founders, commented:
“Ashcombe has been more than an adviser. They have been a trusted partner, and we are delighted with the support they have provided us.”