Innonic’s Shoprenter successfully sold its majority stake to the Polish e-commerce giant IAI
Our Client Shoprenter, a member of the Innonic Group, a major SaaS-based e-commerce platform provider in Hungary agreed to sell majority stake to an international strategic investor to further exploit its growth potential in the CEE region and Europe.
In July 2021, Shoprenter closed a successful M&A transaction with the market leader Polish e-commerce SaaS provider company IAI (IdoSell), which acquired a majority stake (51%) in the Hungarian company.
IAI – backed by the leading digital PE fund in Poland and Central Europe MCI Capital – reported GMV (gross merchandise value) of EUR 2.6bn EUR in the fiscal year ending April 2021, and it provides e-commerce systems for 6000+ online stores and 1500+ online accommodation booking facilities.
The acquisition of its peer Shoprenter is one of the very first important milestones in IAI’s European and international expansion and becoming a global player.
Shoprenter was advised by Absolvo Consulting in the transaction process with IAI.