Case study

Capvis Partners With BSI Software

Private Equity

Challenge

Prior to a potential acquisition and as part of its technical due diligence, Capvis needed to understand the technical setup and capabilities of BSI Software and if the architecture was suitable for scale.

Outcome

Capvis invested in BSI in September 2020. It reported that BSI "have started implementing some of the areas identified as potentials for growth during the due diligence."

BSI Software is a leading software player with solutions from CRM to CX for the banking, insurance, retail and life sciences industries. For over 20 years BSI has supported medium and large enterprises such as Hanseatic Bank, HDI, UBS, SwissLife, Deutsche Bahn and Hermes.

The project

BSI Software was looking for a strategic partner such as Capvis, a Swiss-based, mid-market investor, to support them in their growth journey. This entails deepening the penetration in its home markets, accelerating the shift towards cloud and broadening its software portfolio to further increase share of wallet.

As part of the due diligence, Capvis wanted to understand the technical setup and capabilities of BSI and in particular whether the architecture was suitable for scale.

How we helped

“You were able to provide reassurance that there were no red flags with BSI’s technical architecture and to confirm that BSI had a highly scalable platform. You addressed our questions well,” continues Simon.

Andre Weilenmann, Investment Director at Capvis, adds, “There were a few different areas we wanted covered in the report and you addressed all of them. One main topic was to make sure that we didn’t have any open source compliance issues. That was quite technical but you were able to address this area.”

“Additionally, we ended up taking out W&I insurance for the deal and the due diligence report gave the insurance providers comfort around any technical risks involved.”

The project was undertaken in Summer 2020, in the midst of COVID lockdowns and hence was undertaken entirely remotely. Andre says, “It was clear your team had experience with remote projects and I think the approach that was used was the right one. We drew up an information request list and then had follow up calls. I think we were able to get the questions answered remotely as well as we could have by being in person. I don’t think it made any difference to the outcome of the project.”

Simon agrees, “I think everyone adapted quickly to the new way of working. And, at times, it was even better to do it remotely as it was more efficient.”