Polyspot (France) - Nov 2007

unquote
01 November 2007

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Via its subsidiaries Vizille Capital Innovation and Sudinnova SA, CIC Banque de Vizille has invested €1.2m in the first round of funding in software developer Polyspot. The deal, which involves 60% of convertible bonds, was sourced through corporate finance boutique Sogedev.

Company

Paris-based Polyspot has developed software enabling clients to identify available information by searching simultaneously internal and external sources, such as shared directories, intranets, electronic documents management system (EDMS), relational database (RDBMS), proprietary databases, personal files, mail boxes, websites, search engines, on-line services and RSS feeds. The company generated a turnover of €1m in 2006 with a 10% net profit margin, and hopes to reach €7-8m within five years, notably by expanding abroad and primarily into Italy and the UK. Additional R&D will also be pursued, notably to strengthen customer services linked to specific features of the software solutions. Key customers include BNP Paribas, Suez Environnement and Natixis.

People

Olivier Levy led the deal for CIC Banque de Vizille.

Advisers

Equity - Duteil Avocat, Karine Budin , Thibault Ricome (Legal)Equity - Rivière Avocats, Laurent Stamm (Other Due Diligence)Equity - YG Expertise et Conseil, Yves Gauthier (Financial Due Diligence)Management - Dolfi Missika Minchella & Associés, Elisa Peron, Philippe Missika (Legal)Management - Sogedev, Charles-Edouard de Cazalet (Corporate Finance)

Sourced from: France unquote" 87 (Jan 2008)