Being a board professional is an exciting and dynamic occupation, as the aim of the assignment from time to time is to sell the company, and handover the board responsibility to the new owners. Out of ten companies in my board portfolio, I have over the last six months experienced two successful company sales to other industrial players, which testify valuable companies with continued growth potential.
CDRator sold to Enghouse Systems
Most recently, the mobile billing software company CDRator A/S was sold to Enghouse Systems Limited that is a publicly traded Canadian based software and services company. Enghouse serves a number of distinct vertical markets through its three divisions, Interactive, Networks and Transportation, each developing and selling enterprise oriented applications software. CDRator is now part of the Networks division.
On March 3 2015, Enghouse Systems Limited announced that it has acquired CDRator A/S for a purchase price of approximately $23.0 million (net of acquired cash). CDRator’s annual revenue for fiscal 2014 was just over $20.0 million. CDRator has approximately 130 staff primarily based in Denmark who support their customer base in Europe, North America and Africa.
Having served on the board of CDRator A/S for five years, I am proud of this successful and promising exit. I wish both Enghouse Systems and CDRator’s management and staff the best of luck for their joint future.