CornerstoneCapital is pleased to announce the successful exit of our investment in Infoniqa Group (Thalheim bei Wels / Austria). In Elvaston, Infoniqa has found a new majority shareholder, who has extensive market knowledge and will accompany the company in the future and help to further consolidate this fragmented market segment.

In 2012, CornerstoneCapital as the majority shareholder and the managers Siegfried Milly and Alexander Zrost acquired Infoniqa Payroll GmbH together with its subsidiaries. Infoniqa is a leading HR software vendor and services provider in Austria and Germany. More than 2.800 customers with in excess of 1.5 million employees in Germany, Austria and Switzerland trust the Company’s expertise in payroll accounting, personnel software and time recording. Infoniqa is ranked among the top 3 players in its segment in Austria and is one of the fastest growing HR software companies in Germany.

Since the MBO in 2012, Infoniqa’s excellent management tripled revenues, profits as well as the number of employees. In addition to the strong organic growth, CornerstoneCapital supported four highly accretive add-on acquisitions which all have been significantly contributing to the positive development of Infoniqa.

Currently, CornerstoneCapital invests out of its third fund with a total equity volume of € 100 million. We primarily invest in companies with outstanding technological expertise, strategic value creation opportunities and strong management teams. Our portfolio companies typically generate revenues between € 20 and € 40 million with double digit margins.

With a new Windows-based payroll software, our portfolio company Infoniqa, completes its comprehensive HR software solutions portfolio. From now on, the HR suite Infoniqa ONE is available. For HR departments this means: payroll, time management and HCM software come from a single source. Thus, the modular complete system covers all processes that can occur in an HR department. The advantage: Customers can flexibly choose the required modules and decide on both the fully integrated overall solution and individual modules. The scope of services can be extended as needed at any time. Infoniqa ONE can be integrated into existing system structures and enables smooth interaction with existing HR solutions.

The Infoniqa HR Group concludes 2017 with a very positive balance sheet. The full-service provider for HCM, time management, payroll and outsourcing were able to increase its turnover from € 17.8 to almost € 20 millions. With this result, the company is well above average market growth. The business units HCM Software and Time Management have developed particularly successfully. “We were able to increase the licensing business with our HCM solutions by more than 77 percent. Outsourcing also performed better than average, with growth of around 19 percent, “explains Siegfried Milly, CEO of the Infoniqa HR Group.

Infoniqa success continues in 2017. As in previous years, the HR specialist was able to significantly increase its balance sheet result again. In 2016, Infoniqa was even one of the fastest growing HR software providers in Germany. This makes it possible for the company – as one of the few complete providers on the market – to continuously grow with HR solutions. Siegfried Milly, CEO of the Infoniqa HR Group, comments: “In 2017 we again developed significantly faster than the market and were able to further expand our market strength in the areas of personnel management, payroll, time management and outsourcing. And for 2018, the signs are also on growth. This development shows how right it is to put people at the center of our work. ”

Focus on customers and user experience

For 2018, Infoniqa will continue to focus on its customers – true to the motto “Focus on you”. “A recent survey has shown high customer satisfaction averaging up to 96 percent. More and more customers are using additional solutions and services from our complete offer, for example in the areas of time management and payroll outsourcing. For some years now, we have been offering practical and cost-efficient services such as outsourcing payroll or hosting software in the data center, “explains Milly. In the ongoing development of its solutions, Infoniqa relies on the best possible user experience. “We have some exciting UX projects going on, and we are optimizing our services in close collaboration with our customers,” says Milly. Furthermore, the mobile applications of the HCM and time solutions are being promoted so that they can be used on the go as well.