ChapsVision announces the acquisition of Sinequa, a global leader in AI-enhanced enterprise search, and raises €85m from its historic investors and new investor Jolt Capital.
Paris, November 18, 2024.
ChapsVision announces the acquisition of Sinequa, a world leader in AI-powered search, and raises €85 million from its historical investors (Tikehau Capital, alternative asset manager, Qualium Investissement, Bpifrance, GENEO Capital) and its new investor Jolt Capital.
ChapsVision, the leader in AI-enhanced data processing, announces the acquisition of Sinequa, the world leader in enterprise search engines augmented with RAG (Retrieval-Augmented Generation).
Sinequa, a major player in AI and RAG, recognized by Gartner and Forrester, is currently enjoying strong growth, accelerated by the interest aroused by generative AI. Sinequa boasts a prestigious customer portfolio with global references including Pfizer, AstraZeneca, TotalEnergies, Alstom, Airbus and NASA.
" We are delighted to welcome Sinequa to ChapsVision," says Olivier Dellenbach, CEO and founder of ChapsVision. "Alexandre Bilger and his teams have developed a unique Generative AI Augmented Search (GAS) technology, recognized by analysts, used by the world's leading companies on the most demanding use cases. This technology perfectly complements our ArgonOS platform, and will enable us to market a unique offering in massive data processing."
ChapsVision will capitalize on this acquisition to help organizations accelerate their adoption of AI and generative AI, accompanying the transition from experimentation to production solutions in a secure context.
The technology resulting from this strategic acquisition will enhance ArgonOS, ChapsVision's platform for processing massive, heterogeneous data. In particular, it will enhance its :
- data collection via numerous additional connectors ;
- and research with all Sinequa's advanced search and RAG engineering.
In addition to this technological complementarity, ChapsVision will capitalize on this acquisition to accelerate its international development (Europe, North America) and in high-potential markets such as pharmaceuticals, industry, finance and business law.
Jean Ferré, CEO of Sinequa , comments: "The ChapsVision project opens up great opportunities for our employees, while enabling our customers to benefit from a technologically broader and more profound offering from a business point of view. This project, led by an inspiring entrepreneur with a proven track record, is a unique opportunity in Europe in terms of its financial, industrial and even sovereign ambitions. It's the perfect next step for Sinequa".
Alexandre Bilger, Chief Architect Officer, adds: " Joining ChapsVision and contributing to its strong growth represents a tremendous opportunity for the Sinequa teams and for myself. We're delighted to be able to offer our cognitive search solution to all ChapsVision customers, and to meet their challenges in managing complex data. With its strength, ChapsVision will enable us to reinforce our investments to further improve our quality of service and our product, and to further accelerate our international development".
The acquisition of Sinequa is financed by contributions in kind, as well as by a third round of financing for the group of €85 million, which will also enable ChapsVision to pursue its international development. ChapsVision's historical shareholders - Tikehau Capital, Bpifrance, Qualium Investissement, GENEO Capital - and Jolt Capital, a new investor, are financing this transaction.
Olivier Dellenbach, CEO & Founder of ChapsVision adds: " I would like to thank my long-standing partners for their renewed confidence. I am delighted to welcome Jolt Capital to our project to create a European giant in the field of data processing and AI. This new financing, will enable us to start a new cycle in the rapid development of ChapsVision, particularly internationally."
" Over the past five years, Sinequa has confirmed its position as a global technology leader, won a number of very large accounts, particularly in the USA, and initiated the verticalization of its offering, with a particular focus on industry, pharma and finance. Integrated within ChapsVision, Sinequa's offer will be able to be more widely distributed in these industries. We are delighted to have supported Sinequa during this period, and delighted to have reached an agreement with ChapsVision that will perpetuate and further develop this great adventure on French soil, " comments Antoine Trannoy, Managing Partner at Jolt Capital.
The consultants who supported this operation are :
- ChapsVision
- Due diligence consultants: E&Y (Legal), Grant Thornton (Finance, Labor and Tax)
- Legal M&A: Valther Avocats
- Strategy: Altman Solon
- Fiscal: Arsène Taxand
- Finance : Accuracy
- Historic Chapsvision investors: Qualium Investissement, Tikehau, Bpifrance and GENEO Capital
- Legal M&A: Goodwin Law, Willkie Farr & Gallagher, Proskauer Rose LLP
- Sinequa shareholders (including Jolt Capital)
- Advisory bank (M&A): Clipperton
- Legal M&A: Joffe & Associés
About ChapsVision
As a specialist in sovereign data processing, ChapsVision enables companies and public authorities to succeed in their digital transformation and create value, thanks to a software suite built around its system for exploiting massive, heterogeneous data. Through major R&D investments in massive data processing, complemented by a sustained strategy of acquisitions and international expansion, ChapsVision has rapidly built up a coherent group comprising two branches addressing sectors with a high data footprint: one dedicated to enterprises and the other to governmental organizations. Created in 2019, ChapsVision has nearly 1,000 employees, 1,000 key account customers, and is targeting sales of over €200 million in 2024.
For more information: www.chapsvision.fr/ and www.chapsvision-cybergov.fr/
Press contact: Delphine Buffard, 07 6049 60 66, dbuffard@chapsvision.com
About Sinequa
Sinequa transforms the way we work. Sinequa assistants strengthen the enterprise by providing employees with a competent, accurate and secure work partner, making them more efficient, better informed, more productive and less stressed. The assistant streamlines workflows and integrates into the chaotic landscape of corporate information, simplifying employees' tasks and enabling them to concentrate on their value-added missions. Sinequa assistants combine the power of enterprise search with the fluidity of generative AI in a configurable, easy-to-manage assistant framework, for a precise, traceable and fully secure conversational experience. With Sinequa, companies deploy a ready-to-use assistant. They can also configure a tailored experience and specialized workflow to "augment" their people and their business.
Further information: https: //www.sinequa.com/
About Jolt Capital
Jolt Capital is a private equity firm specializing in growth investment in cutting-edge technology companies, with the mission of building future European leaders with a global reach. Since 2011, Jolt Capital has been investing in European B2B companies with sales between €10 and €50 million. The Jolt Capital team is made up exclusively of experienced investors and high-tech business leaders. Its proprietary AI platform, Jolt.Ninja, enables enriched sourcing, accelerated due diligence and automatic detection of investment or acquisition targets. Jolt Capital has offices in Paris, Lausanne, Copenhagen, Montreal, London, Tokyo and Silicon Valley. www.jolt-capital.com
Press contact: Servane Taslé, (0)6 66 58 84 28 servane@steeleandholt.com