Emeram-backed Diva-e buys ProVision

The two companies will be merged following the acquisition. The enterprise value was less than €25m, Unquote understands.

A source close to the situation told Unquote that the acquisition was made on an opportunistic basis after ProVision approached Diva-e to initiate the deal.

Emeram acquired a majority stake in Diva-e in December 2015, deploying equity from Emeram Fond I. The fund held a final close in January 2015 on €400m. Emeram is currently on the road for its second vehicle, targeting €400m.

The GP aimed to pursue a buy-and-build consolidation strategy in the e-commerce sector. Emeram said in a statement that it had almost doubled the company's revenues during the investment period. Diva-e reported revenues of €45m at the time of the acquisition. At the time, Diva-e consisted of six subsidiaries.

Diva-e subsequently acquired digital strategy consulting company Digital Transformation Group in October 2016. It bought online marketing specialist OneAdvertising in June 2017, and wholly acquiring IntelliAd in September 2018.

Company
ProVision was founded in 2000 and provides enterprise content management services, including the design and creation of websites, intranet portals and mobile sites, via its Adobe-based software platform.

The company has offices in Berlin, Frankfurt and Braunschweig, and generates revenues of less than €25m. It has a headcount of 70.

People
Diva-e – Tilman Au, Axel Jahn (co-CEOs).
Emeram – Kai Obring (founding partner).

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