THE CAURIS CROISSANCE FUND FINANCES AXXEND CORPORATION’S REGIONAL EXPANSION
The Cauris Croissance II Fund, managed by Cauris Management, a West African private equity fund management firm, is investing 3.3bn FCFA (€5m) in AXXEND Corporation (Axxend). This investment, made in Abidjan, the capital of Ivory Coast, on May 22, 2013, is intended to finance the first phase of the company’s development program.
Axxend Corporation operates from its headquarters in Senegal, as well as from its offices in Ivory Coast, Ghana, Guinea, and Cameroon. Founded in 2010, Axxend Corporation is an IT services company specializing in Microsoft and SAP technologies; through its services, it helps corporate clients optimize their productivity and revenue. The investment is intended to diversify Axxend Corporation’s activities. Significant opportunities are emerging across Africa with the arrival of high-speed internet via undersea cables.
Commenting on Cauris’s acquisition of a stake in the company, Mr. Alberto Olympio, founder and President of Axxend Corporation, stated: “As a three-year-old startup, Axxend Corporation has developed a multi-phase growth plan. This plan requires raising additional funds to implement our ambitious growth projects. Beyond financial support, Axxend Corporation needed a structure that could add value, particularly in terms of governance, process optimization, and networking, which will further contribute to improving our performance. Cauris Management was able to meet our specific needs by creating the necessary synergy that combines the rigor of its industry with the constraints of our context. For all these reasons, Cauris Management remains the best choice for Axxend Corporation.”
The Cauris Management - AXXEND Corporation Partnership
“For Cauris Management, the partnership with Axxend represents an opportunity to support a young, fast-growing company with strong leadership that is committed to providing high-quality services to the market. In just three years of operation, Axxend has won awards and earned a strong reputation for its world-class services. In line with its investment strategy, Cauris Management intends to support Axxend in the successful implementation of its regional development plan,” explains Mr. Noël Yawo Eklo, Chairman and CEO of Cauris Management.
Le partenariat Cauris Management - AXXEND Corporation
« Le partenariat avec Axxend représente pour Cauris Management, l’opportunité d’accompagner, un jeune acteur en forte croissance, disposant d’un fort leadership et désirant offrir des services de qualité au marché. En 3 ans d’activité, Axxend a gagné des prix et acquis une bonne réputation pour ses prestations de classe internationale. Cauris Management, en phase avec sa stratégie d’investissement, se propose de soutenir Axxend pour une mise en œuvre réussie de son plan de développement régional » explique Monsieur Noël Yawo Eklo, Président Directeur Général de Cauris Management.
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