Powell’s first build-up, expanding into the Netherlands and frontline Digital Workplace.

POSITIVE CAPITAL ADVISED POWELL SOFTWARE ON ITS ACQUISITION OF SYNIGO

Executing Powell Software’s European buy-and-build strategy in the Digital Workplace market.

Positive Capital advised Powell Software on its acquisition of Synigo, a Netherlands-based digital workplace software company.

The transaction marks Powell’s first acquisition following Cathay Capital’s majority investment and represents a first milestone in the Group’s ambition to build a European leader in Digital Workplace and Employee Experience.

Less than twelve months after advising Cathay Capital on its majority investment in Powell Software, Positive Capital is delighted to have advised Powell on the acquisition of Synigo.

The transaction expands Powell’s footprint into the Netherlands and brings together two complementary digital workplace platforms, extending the Group’s ability to address employees from desk to frontline.

It also represents the first step in the buy-and-build strategy underpinning Cathay Capital’s investment in Powell: combining sustained organic growth with targeted acquisitions to build a leading European software platform.

ABOUT SYNIGO

Founded in the Netherlands, Synigo develops a digital workplace platform designed to connect employees and improve access to information, communication and workplace services.

Its user-centric solution has developed a particularly strong proposition for frontline workers, complementing Powell’s Microsoft 365-native approach to employee experience, IT governance and AI readiness.

Synigo also brings Powell an established presence in the Netherlands, strengthening the Group’s European footprint and further diversifying its customer base.

DEAL RATIONALE

The Digital Workplace market remains fragmented across Europe, with a large number of local and specialised software vendors addressing different segments of the employee experience.

The combination of Powell and Synigo illustrates the strategic rationale for consolidation: combining complementary technologies, expanding geographic reach and increasing the addressable employee base across both desk and frontline workers.

For Powell, Synigo brings three key strategic benefits: a complementary product proposition, an established position in the Netherlands, and increased exposure to frontline employees.

The acquisition therefore represents an important milestone in Powell’s ambition to become a European reference in Digital Workplace and Employee Experience, while creating a broader platform from which to pursue further organic and external growth.

The transaction also illustrates Positive Capital’s ability to support sponsor-backed technology companies throughout their investment cycle — from platform investment to the execution of cross-border buy-and-build strategies.

Positive Capital Team involved in the deal:

• Thomas Tcheudjio, Deal Lead

• Rudolphe Michau, Managing Director