October 6, 2025

Warburg Pincus-backed Infoniqa acquires HS Hamburger Software to expand its ERP and HR capabilities in the DACH Region

Press Release
Infoniqa Group, a provider of HR and business software solutions backed by Warburg Pincus, has acquired HS - Hamburger Software. With over 40 years of market presence, HS brings a loyal customer base of more than 5,000 clients and a team of 180 employees, delivering trusted software solutions in HR, financial accounting, inventory management, and document management. The acquisition opens new avenues for growth and innovation, enabling HS to benefit from Infoniqa’s scalable infrastructure and broad technology ecosystem, while offering customers a more comprehensive and integrated software suite. NKP | M&A Insights covered in multiple proprietary updates the sales process of HS, most recently in June 2025. The transaction was led by connexxa M&A as advisor to HS, with legal counsel provided by GREENFLAG. Reportedly, HS generated an ARR of EUR 15m as of late 2024 with around 25% EBITDA margin (or more), indicating EBITDA of more than EUR 3-4m on a run-rate basis.
Transaction announcement
Originally surfaced by NKP | M&A Insights as:
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June 23, 2025

Update: The Connexxa-advised sales process of founder-owned SME-focused ERP vendor Hamburger Software is in its final stages, with a few bidders left, acc. to sources (NKP | M&A Insights Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)
May 16, 2025

Update: Founder-owned SME-focused ERP vendor Hamburger Software is moving ahead with Connexxa-advised sales process planned for later this year, acc. to several sources (NKP | M&A Insights Proprietary)

[log in to app.mainsights.io to read the full analysis as it was originally presented]
NKP | M&A Insights Proprietary
Early coverage by NKP | M&A Insights (headline)

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