Gimv sells stake in RES to Ivanti

The deal ends a seven-year holding period for Gimv, which initially invested in the company in April 2010.

RES has expanded its operations across Europe and into North America during Gimv's tenure and says its revenues have tripled. In 2009, the company reported a turnover of €17.57m.

Ivanti plans to use RES's European presence to apply its own automation software to a larger pool of applications, platforms and databases.

Previous funding
In June 2009, US growth capital company Updata Partners invested $12.5m in RES. The following April, Gimv provided a further €4.7m investment in return for a stake in the company. Gimv partner Elderd Land joined the company's board at this stage.

Company
RES, established in Den Bosch in 1999, provides user workspace management products that allow IT professionals to direct their desktop networks, while at the same time reducing costs. It has operations in 27 countries and employs around 250 people.

People
Gimv – Elderd Land (partner).
Ivanti – Steve Daly (CEO).
RES Software – Bob Janssen (CTO).

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