BDO advised Elovade on the acquisition of Avangate Security Srl

BDO has advised Elovade Beteiligungs GmbH („Elovade“), a HQ Equita as well as Verdane portfolio company, on the acquisition of Avangate Security Srl („Avangate“), a leading Italian Value Added Software Distributor for IT security solutions, with a cross-border team.

A German-Italian team from the Deal Advisory division of BDO, led by Steffen Eube, conducted a comprehensive financial buy-side due diligence during the sale process.

Avangate is one of the leading VAD (value added software distributors) for IT cybersecurity solutions in Italy, serving over 2,500 resellers with security solutions such as Bitdefender, Kaspersky or Acronis. Avangate operates in Italy, San Marino, Vatican City and the Italian-speaking area of Switzerland.

Elovade is one of Europe’s leading value-added software distributors specializing in IT security and cloud services. 160 experts at locations in Germany, Italy, Sweden and Switzerland support thousands of IT service providers and system houses across Europe in the distribution and implementation of software. Partners benefit from a comprehensive range of services, from training courses, workshops and a digital learning base to audits and on-site integrations carried out in collaboration with partners. Elovade also deploys appropriate marketing and sales strategies to support software providers when launching new products in Europe, thus ensuring steady growth in brand awareness. 

Consultants involved on the BDO side:

BDO AG Wirtschaftsprüfungsgesellschaft:
  • Dr. Steffen Eube (Partner, Deal Advisory, Frankfurt)
  • Felix Fries (Senior Manager, Deal Advisory, Frankfurt)

BDO Italia:
  • Chiara Bascialla (Partner, Advisory Corporate Finance, Mailand)
  • Dianne Van (Senior Manager, Advisory Corporate Finance, Mailand)
  • Giovanni Roberti (Manager, Advisory Corporate Finance, Mailand)
  • Niccolò Nespoli (Senior Analyst, Advisory Corporate Finance, Mailand)
  • Andrea Franco (Analyst, Advisory Corporate Finance, Mailand)