usedSoft to concentrate on its European business
The international software trading group usedSoft intends to concentrate on the European market in the future, and has therefore divested itself from its subsidiaries in Asia and South Africa. These have been acquired by an international group of investors. The sale has generated a revenue for usedSoft amounting to several million Euros.
The usedSoft companies sold are in Singapore, Hong Kong and Cape Town. The divesting of these subsidiaries outside Europe represents a strategic change of direction, with which the usedSoft Group has drawn the consequences resulting from the extremely positive development of its business in Europe.
“Yes, it is true that in recent years we have achieved a notable growth at our locations in Asia and South Africa”, states Peter Schneider, Managing Director and founder of usedSoft, explaining the decision. “Nevertheless, this growth lagged behind the strong development in our European markets.” In the 2018 financial year, the usedSoft Group was able to increase its total turnover by over 48 percent compared to the previous year (comparable figure for 2017 = 18 percent). “Given the continuing enormous growth potentials in Europe, it is clear that we should focus on those markets, which we know best and in which we recognise the greatest potentials.”
The international group of investors that has acquired these subsidiaries intends to continue the expansion of the trade in used software in Southeast Asia and the growth markets in South Africa on a consistent basis. The investor paid approx. 14 million Euros for the three usedSoft companies. usedSoft intends to use this revenue by investing in further growth in the core European markets.
In addition to its Head Office in Switzerland and its home market in Germany, usedSoft maintains sales offices in Austria, France and the Benelux countries. In collaboration with selected sales representatives, usedSoft also operates in other markets, e.g. in Northern, Southern and Eastern Europe.