After 17 years of profitability, a first acquisition last February, the Montreal company GSoft “is at a crossroads and has the taste to give itself the means of its ambitions”, summarizes its CEO and co-founder, Simon De Baene. An investment of 125 million from the Caisse de depot et placement du Québec (CDPQ) announced on Tuesday will allow it.
This is a first partnership for GSoft with the Caisse de depot et placement, he notes. “We were lucky, a chance we created for ourselves, to have good financial health from day 1. Today, we think big, we are in a market that fascinates us, the world of work , and it has particularly changed in recent years. »
Specialized in software used in business such as Sharegate, Officevibe and, more recently, Talentscope, GSoft has essentially developed its products internally. The acquisition announced on February 8 of Didacte, a Quebec company that has designed an in-company learning management system, was the first example of a new approach that we intend to intensify with the help of the CDPQ.
“Yes, we arrive with a check, but it comes above all with expertise and a network, says Kim Thomassin, first vice-president and head, Quebec, at the CDPQ. We are present in 250 countries, we have possibilities thanks to our network of 5000 companies. Sometimes, having the Caisse by your side opens doors, necessarily here, but also elsewhere. »
PHOTO PROVIDED BY THE CAISSE DE DÉPÔT
Kim Thomassin, First Vice-President and Head, Quebec, at the CDPQ
Against Cadillacs
The Caisse appreciates the “clear strategy” of GSoft’s management team, namely a growth plan through acquisitions. “This is the type of Quebec business we want to support,” she says.
The pandemic and the popularity of working from home have given a remarkable boost to the Montreal company, which has practically doubled its number of employees in a year and a half to 415. The company has 16,000 customers in around 100 countries. , and its annual revenue of approximately US$100 million grew by 30% in the last fiscal year.
Since the pandemic, the work experience is almost 100% digital. There are experiences to rebuild completely in organizations. Our playground, I find it quite huge. Product ideas, we have tons of them; sometimes you have to calm down and choose.
Simon De Baene, CEO and co-founder of GSoft
The acquisition of Didacte was “a good practice” for the rest of things, he summarizes, while larger transactions are in the sights of GSoft. “We look in Canada, in the United States, we are not closed to Europe. […] There are some great products from great companies that have been built in recent years, which possibly have synergy with the products we have here. »
For Mr. De Baene, the keyword of the products offered by GSoft is simplicity. “That’s what allowed us to take off. […]. We fought against giants who offered the Cadillac with all the possible buttons, GSoft decided to bet on the few essential buttons which are the biggest levers of the organization. »