Gimv and other financial investors have sold their stake in Belgian technology scale-up Itineris to investment firm Cobepa. Itineris founder and CEO Edgard Vermeersch remains a major shareholder and will continue to lead the company alongside its management team.
Itineris, founded in 2003, develops software solutions for energy and water utilities, helping them improve operational efficiency and achieve environmental goals. The company employs around 550 people across Europe and the U.S. and expects to exceed 100 million euros in revenue by 2025.
Under Gimv’s ownership since 2013, Itineris expanded internationally, securing major U.S. clients in cities like New York, Dallas, and Boston. The 2021 acquisition of Belgian data platform Opinum further strengthened its capabilities in supporting the energy transition.
Gimv’s exit marks a strong return on investment and positively impacts its net asset value, though no financial terms were disclosed. Cobepa will now support Itineris in the next phase of its growth, internationalization, and innovation journey.
