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[05/11/2015] Keensight Capital supports Smile in its planned acquisition of Open Wide

Smile, the leading European expert in the integration of open source solutions, has announced that it has entered into exclusive negotiations for the acquisition of the company Open Wide. >>

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Smile announces a 26% organic growth for 2010

[Tuesday 03 May 2011]

Smile has ended the year 2010 with a 25.5 million euro turnover, the result of a purely organic growth rate of 26%.
With 450 employees across the world, Smile is the undisputed leader of open source solutions, both in France and in Europe.

Smile's turnover in France has also increased by 26%, totaling to 23.8 million euros. Between 2005 and 2010, Smile boasts a 34% yearly average growth rate (CAGR), almost entirely in organic growth. This outstanding achievement stems from not only the continuous rise of open source software in enterprise IT, but also Smile's specific assets, allowing it to considerably outperform its market.

Across the years, Smile has maintained a strong and profitable growth, proof of its ability to keep its offers in sync with the market's expectations, but also of the company's capacity to re-organize itself in order to cross growth levels without losing efficiency.

An offer that covers every area of open source

Smile's biggest strength is its global offers, covering the full spectrum of open source solutions : from infrastructure to ERP, through CMS and portals, ECM, DMS and BPM, Business Intelligence, e-Business and CRM, Social Networks, Messaging and Groupware. Smile has extended its expertise in every field where open source offers quality solutions to meet enterprise needs. In terms of services, Smile's core activity is clearly into engineering and solution integration. However, services such as Digital Agency, Third-Party Maintenance, open source support, along with open source hosting, have also proven to be very successful in 2010.

A European opening

The main strategic goal for 2010 was expansion across Europe. Smile Geneva, which started up at the end of 2009, has expanded rapidly and has gained many important clients. In Barcelona, Smile Iberia, previously known as Cometatech, was able to market and sell a large portfolio of open source products and has, for example, become Magento's first partner on the Spanish market. 2010 was also the year that marked the opening of a new Smile office based in Amsterdam addressing the whole Benelux region. At the same time, Smile's offices in Morocco and Ukraine have made important growths of 56% and 60% respectively, with an increased share of activity on their local market.

Smile is now the undisputed leader amid open source “pure players” in France and the gap between Smile and other players has widened considerably. Smile has thus decided to spread its model at a European level. International companies are happy to find a partner with deep expertise in open source and the ability to serve them in a growing number of countries.

Important clients and big projects

In 2010, the share of large accounts in Smile's income has grown, with projects of increasing size. “ Over these last few years, a lot of larger companies have opened up to open source solutions, starting with average sized projects. The success of these projects confirmed the benefits of these solutions, in terms of savings, as well as their superiority in terms of standards compliance and sustainability. These companies are now launching strategic projects based on open source solutions, environments and frameworks”, asserts Smile General Manager, Patrice Bertrand. “ Big IT Consulting firms are interested in open source but are not able to build a targeted expertise comparable to ours on open source solutions. This is why key accounts count on Smile to combine this targeted expertise with our capacity to deliver major projects successfully.”

Good predictions for 2011

We forecast an organic growth of over 20% again for 2011, which will take the group turnover to a total of 30.5 million euros.”, says Marc Palazon, CEO of Smile. “ To this we will probably add a number of M&A operations, enabling us to reach beyond 35 million euros across Europe. The first two months of 2011 have confirmed that we are on target in meeting these goals.

At the beginning of 2011, Smile announced the acquisition of Sqli agencies in Aix and Montpellier, enabling the company to reach a critical size, with 70 new employees in the Mediterranean region.

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