Munich-based venture firm smac partners and Headway Capital have acquired a tail-end portfolio from iD TechVentures Ltd. The equity was drawn from smac partners Fund III, with Headway providing backing.
Company will use the capital to expand in the North American, EU, and Asia-Pacific markets
Acquisition of IT service is subject to approval from the German competition authority
GP intends to bolster Bindi's growth both organically and via new acquisitions in Italy and abroad
Deal marks the seventh add-on acquisition since Triton bought AVS from Borromin Capital in 2013