Hitachi Vantara Announces Intent to Sell oXya to Montefiore Investment

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Jul 12, 2023, 08:00 ET

SANTA CLARA, Calif., July 12, 2023 /PRNewswire/ -- Hitachi Vantara, the modern infrastructure, data management and digital solutions subsidiary of Hitachi, Ltd. (TSE: 6501), announced its intent to sell oXya, a premier France-based SAP infrastructure solution provider it acquired in 2015, to Montefiore Investment, a well-respected French investment firm that specializes in high-potential small- and medium-sized service companies.

"Over the last eight years, with its expertise in SAP hosting and BASIS services, oXya has been a successful and profitable acquisition for Hitachi Vantara. As we look forward, we believe this deal positions both oXya and Hitachi Vantara for continued growth against our respective opportunities," said Roger Lvin, President of Digital Solutions Business Unit at Hitachi Vantara. "Following the completion of this deal, Hitachi Vantara will continue to pursue our SAP implementation and support business and will maintain a consistent and continuing business relationship with oXya. As such, customers and partners can expect the same excellent service without disruption."

Montefiore is looking to acquire oXya in part for its world-class service offerings, market position, in-depth industry knowledge, reputation for excellent customer service, and experienced management team. Montefiore has a long term buy-and-hold acquisition strategy, providing its portfolio companies with the strategic guidance and financial support required to help them achieve their ambitious growth and development objectives.

"oXya's market position and global customer base combined with its 25 years of experience in the management of critical applications made it an attractive investment for Montefiore, one that is strongly in line with our investment strategy," said Daniel Elalouf, Managing Partner of Montefiore Investment. "We look forward to the opportunity to partner with oXya's management team to maximize the company's growth both in France and internationally."

The transaction is subject to customary conditions and regulatory approvals and is expected to close by the end of the summer 2023. Following the close of the deal, Hitachi Vantara will retain its business relationship with oXya, which will operate independently and continue to be led by Geert Vandendorpe, President Frédéric de Belloy, and other key personnel.

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About Hitachi Vantara

Hitachi Vantara, a wholly owned subsidiary of Hitachi Ltd., delivers the intelligent data platforms, infrastructure systems, and digital expertise that supports more than 80% of the Fortune 100. To learn how Hitachi Vantara turns businesses from data-rich to data-driven through agile digital processes, products, and experiences, visit hitachivantara.com.

About Montefiore
Created in 2005, Montefiore Investment is the reference private equity firm dedicated to service SMEs and mid-market companies. With a team of 50 employees, and relying on its sector expertise and know-how, the company successfully supports companies in their growth and development projects. Montefiore Investment has demonstrated its ability to transform SMEs and midcap companies into true European champions. Its performance has enabled it to establish itself as a key player in mid-market private equity. Based in Paris and Milan, Montefiore Investment currently manages €4 billion of equity and invests ticket sizes ranging from €20 million to €200 million in order to finance sustainable and profitable growth for its portfolio companies. Since 2021, Montefiore has also been a shareholder and strategic partner of Starquest, a management company dedicated to investments in innovative companies with a strong environmental impact (GreenTech). www.montefiore.eu.

About Hitachi, Ltd.
Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the business structure of "Digital Systems & Services" - supporting our customers' digital transformation; "Green Energy & Mobility" - contributing to a decarbonized society through energy and railway systems, and "Connective Industries" - connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company's consolidated revenues for fiscal year 2022 (ended March 31, 2023) totaled 10,881.1 billion yen, with 696 consolidated subsidiaries and approximately 320,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.

HITACHI is a trademark or registered trademark of Hitachi, Ltd. All other trademarks, service marks, and company names are properties of their respective owners.

SOURCE Hitachi Vantara Corporation