InVision Software AG plans to go public
- Software vendor with international approach
InVision Software AG, based in Ratingen near Düsseldorf in Germany, intends to begin trading on the Prime Standard of the Frankfurt Stock Exchange within the first half of 2007. InVision specialises in developing optimised workforce management solutions. With the proceeds of the IPO, InVision intends to strengthen its core operations as well as to expand its market position and its technological edge. “Our applications cut business operating costs while enhancing employee productivity and satisfaction. Our customers usually achieve return on investment within 6 to 12 months,” said founder and CEO Peter Bollenbeck.
The market for workforce management is relatively new, has been showing rapid growth and still offers great potential, as shown in the findings of studies conducted by leading market research firms such as Frost & Sullivan and AMR Research. In InVision’s core markets, average growth rates in the range 16.0 to 20.5 percent per year are predicted for the period 2005 to 2010.
InVision’s core business is developing, marketing and implementing software applications which enable enterprises to optimise the deployment of their staff. InVision’s solutions cover the entire spectrum of workforce management – from forecasting required staffing levels, generating highly efficient optimised shifts and assisting with on-the-day staffing issues, to time management and reporting. InVision’s solutions cover the whole enterprise and can be used across many different industry sectors. InVision’s solutions are differentiated from those of its competitors by the company’s sophisticated mathematical optimisation technology. “This is where we are one of the leading vendors,” said Matthias Schroer, CTO at InVision. “Creating employee schedules represents a large mathematical problem that our optimisation applications are able to solve in the optimal way. This is only possible as a result of our experience in this specialist field, which goes back over ten years. Applications running such complex calculations have only become commercially viable since the introduction of affordable very high performance computer processors,“ Matthias Schroer added.
The main challenge of staff planning is to create shifts which optimally cover the staffing levels required by the business, while complying with all applicable rules and regulations. In addition to legal, union or contractual constraints, there is a host of other considerations which need to be taken into account when scheduling. These include individual employee skills, specific activities which must be scheduled at specific times, employee time accounts, budget restrictions and even car sharing schemes. “An optimum schedule not only cuts costs for the enterprise because just the right number of employees is on duty at all times. It also means satisfied customers, who for example no longer have to spend precious time queuing at the checkout; and it means motivated employees, whose preferred working hours are taken into account as far as possible,“ explained Peter Bollenbeck.
InVision is growing faster than its market. In fiscal year 2006 (ending 31-Dec), it succeeded in increasing its turnover by approx. 68 percent to €10.7 million from €6.4 million in the previous year. Its EBIT margin amounted to 18 percent in the same period. Founded in 1995, InVision began the process of internationalisation in 1999 and today is represented by 11 subsidiaries in Europe, North America and South Africa in addition to its headquarters in Ratingen near Düsseldorf. “In recent years, we have massively invested in expanding our worldwide marketing. Now we are reaping the benefits,” said Peter Bollenbeck, adding: “Our products are all multi-language, adaptable to local practices and regulations and thus internationally applicable without further development. This also distinguishes us from our competitors.”
The founders, Peter Bollenbeck, Matthias Schroer and Armand Zohari each own 25 percent of InVision Software AG. InVision Holding GmbH, one-third of which is held by each of the founders, owns about 24 percent. Middle management employees of InVision hold about 1 percent of the company.
The IPO is being supported by WestLB AG as the sole lead manager and sole book runner. The co-lead manager is M.M.Warburg & Co.
InVision Software is one of the leading suppliers of enterprise wide Workforce Management solutions, which enable companies to optimise the planning and scheduling of their staff. InVision empowers customers to reduce personnel costs, increase productivity, improve employee satisfaction and to boost revenue by leveraging better customer service. Founded in 1995 with its headquarters in Ratingen (Germany), InVision currently employs more than 120 WFM specialists and has offices across Europe, North America and South Africa.
Among InVision’s clients are numerous international blue chip companies, such as ABN AMRO, Allianz, BMW, Deutsche Telekom, IKEA, Sky and Vodafone.
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This publication does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of InVision Software AG is being, or will be, made to the public outside Germany.
A prospective offer in Germany would be made exclusively by means of a securities prospectus to be published and filed with the Bundesanstalt für Finanzdienstleistungsaufsicht. Such securities prospectus would at the appropriate time be made available free of charge at the offices of InVision Software AG and at the offices of the underwriting banks.
This publication and the information contained herein is not for distribution or publication, neither directly nor indirectly, in or into the Unites States of America, Canada, Australia or Japan.
This publication does not constitute an offer for sale of any securities into the United States. Securities, including any shares of InVision Software AG in the course of a prospective offer, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act of 1933 as amended (the “Securities Act”)) unless they are registered under the Securities Act or exempt from registration. Neither InVision Software AG nor any potential selling shareholders intend to register a prospective offer, or any part thereof, in the United States or to make a public offer of securities in the United States.