Cegid has completed its acquisition of Shine, marking a major step in its growth strategy. The move creates Europe’s first fully integrated AI-Driven Platform designed for small and medium-sized businesses and accounting professionals.
The acquisition strengthens Cegid’s position in cloud management solutions. It also expands the company’s reach across key European markets. Shine brings more than 400,000 SMB customers, a recognized fintech brand, and a scalable technology platform to the combined business.
Following the transaction, the group will serve more than one million SMBs and 15,000 accountants. Its footprint now spans France, Germany, Spain, Portugal, Denmark, the Netherlands, and Belgium.
Building Europe’s Unified Financial Platform
The combined offering delivers a fully cloud-native financial ecosystem. It integrates e-invoicing, accounting, payment services, business accounts, tax management, HR, payroll, and reporting capabilities. Moreover, native AI capabilities power the platform and help businesses simplify operations and improve productivity. The AI-Driven Platform also helps SMBs and accounting professionals manage critical financial processes more efficiently.
The new business unit focused on SMBs and accounting firms will employ 2,300 people. Rico Adlor-Andersen, co-founder of Shine, will lead the division.
“From the creation of Shine to its growth into a leading European unicorn, our mission has always been the same: to radically eliminate complexity for entrepreneurs. With Cegid, that mission takes on a whole new dimension. Today, we are bringing two category leaders together to create Europe’s first truly unified financial hub, serving millions of SMBs and their accountants. This is a decisive milestone in the achievement of our vision and the beginning of a new ambition at a European scale,” comments Rico Adlor-Andersen, co-founder of Shine.
“The completion of this combination is a landmark moment for Cegid, and for the millions of small businesses and accountants we serve across Europe. By uniting Cegid’s cloud and AI leadership with Shine’s innovative digital finance platform, we have created a truly unique offering, Europe’s first unified financial hub built to simplify the lives of entrepreneurs and empower the accounting profession. As mandatory e-invoicing and digital reporting reshape the European landscape, this platform positions our customers to turn regulatory change into a growth opportunity. Cegid is a business of exceptional quality, and that quality is what makes a transaction like this possible in an environment where financing markets for software companies have been sluggish. Silver Lake’s role is to back great companies with conviction and the resources to grow, and we are proud to do exactly that here in partnership with the Cegid and Shine teams as they continue building one of Europe’s defining technology companies,” comments Christian Lucas, Chairman of Cegid and Managing Partner at Silver Lake.
“This acquisition complements our portfolio and reinforces our commitment to serving businesses of all sizes, enabling them to be more agile in their financial and HR management. For the SMB and accountant services market, the integration of Shine marks a decisive step in Cegid’s ambition to become Europe’s leading financial copilot for SMBs and accountants. Now more than ever, we are reaffirming our mission and our unwavering commitment—established over 40 years ago—to accountants and businesses. Cegid will help them take advantage of the huge opportunities offered by the digital transformation of the coming decade,” concludes Bruno Vaffier, Cegid General Manager.
Cegid funded the transaction through its operating cash flow and a new €1.1 billion financing facility. Leading direct credit funds provided the financing after underwriting by Citibank, J.P. Morgan, RBC Capital Markets, and UBS. The deal stands among the largest software financing transactions completed in Europe in recent months and reinforces confidence in Cegid’s long-term growth strategy.
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News Source: Businesswire.com
