Press release


Antwerp, June 23, 2025, 17:45 CET



Gimv sells stake in Belgian technology scale-up Itineris to Cobepa
Gimv and other financial investors sell their stake in Itineris to Cobepa. Founder and CEO
Edgard Vermeersch remains significantly invested in the company. Together with Cobepa,
the management team intends to continue Itineris' growth, internationalization and
innovation journey.

Founded in 2003 by entrepreneur Edgard Edgard Vermeersch, CEO & Founder of Itineris,
Vermeersch, Itineris develops innovative declares: “Our unwavering commitment to
software solutions that allow energy and water customer satisfaction and long-term strategic
utilities to reach operational efficiency, partnerships with our customers has positioned
achieve their environmental goals, and us uniquely within the industry. The trust our
improve the relationship with, and experience customers place in us has fostered a very
of, their end customers. The company currently strong, loyal and vibrant community on both
employs around 550 people in Europe and the sides of the Atlantic. It is my ambition to
United States and is expected to realize a continue building on this legacy. I would like to
turnover of more than 100mio EUR in 2025. express my sincere gratitude to Gimv and our
other former institutional investors for their trust
Since Gimv's investment in 2013, Itineris has and partnership over the years. Their support
experienced sustained growth in its home has been instrumental in bringing Itineris to
region of Benelux and successfully expanded where it stands today.”
into the US and UK markets. Several large US
cities currently use Itineris software to optimize Since joining this scale-up in 2013 and making
the management of utility services, including subsequent investments, Gimv is able to
New York, Dallas, Baltimore, Dakota, generate significant realised value, aligning
Georgetown, and Boston. In 2021, Itineris with its target return. This transaction has a
acquired Opinum, a Belgian software positive impact on Gimv's net asset value as of
company that develops a data platform for 31 March 2025 by slightly less than EUR 1 per
energy and water utilities. This acquisition share. No further financial details are being
allowed Itineris to enhance its ability to support disclosed.
utilities in the energy transition by leveraging
the untapped potential of their data.
Ruben Monballieu, Partner Sustainable Cities,
declares: “Itineris has grown into a leading
international technology player that
contributes to the more efficient operation of
utility companies. This is the result of a unique
combination of Edgard's vision and
entrepreneurship, a talented team fully
committed to innovation and technology, and
a diverse and strong local professional
shareholder base. We are proud of the
impressive growth and successful
internationalization that Itineris has achieved
and the active contribution we have been
able to provide with Gimv Sustainable Cities.”




- Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - 1
Antwerp, June 23, 2025, 17:45 CET Press release




About Gimv

Gimv is a European investment company, listed
on Euronext Brussels and a member of the
Euronext BEL ESG Index. With over 45 years'
experience in private equity, Gimv currently has
an investment portfolio of more than EUR 1.6
billion. The portfolio contains around 61 portfolio
companies, with combined turnover of EUR 4.5
billion and more than 20,000 employees.

As a recognized market leader in selected
investment platforms, Gimv identifies
entrepreneurial, innovative companies with high
growth potential and supports them in their
transformation into market leaders. Gimv's five
investment platforms are Consumer, Healthcare,
Life Sciences, Smart Industries and Sustainable
Cities. Each platform works with an experienced
team across Gimv’s home markets of Benelux,
France and DACH, supported by an extended
international network of experts.

Further information on Gimv can be found on
www.gimv.com.

For further information please contact:

Ruben Monballieu, Partner Sustainable Cities*
T +32 3 290 21 20
ruben.monballieu@gimv.com


* acting on behalf of a company




- Karel Oomsstraat 37, 2018 Antwerp, Belgium - T +32 3 290 21 00 - 2