Gimv Divests Stake in Itineris to Cobepa

Gimv, a well-known investment firm, has sold its stake in the Belgian technology scale-up Itineris to Cobepa. Founder and CEO Edgard Vermeersch retains a significant investment in his company, continuing a strategic partnership aimed at further growth and innovation.

Launched in 2003 by Vermeersch, Itineris specializes in innovative software solutions for energy and water utilities. The company employs 550 people across Europe and the U.S., targeting a turnover of over 100 million EUR in 2025. Since Gimv's investment in 2013, Itineris expanded notably in the US and the UK.

Gimv's divestment reflects a realized value increase, positively impacting its net asset value. Details of the transaction remain undisclosed, but it boosts shareholder value by nearly one euro per share. Management and Cobepa aim to continue Itineris' international growth and market presence.