Another takeover in the German market: Grassfish DACH acquires MDT in a deal that could be especially exciting for the QSR sector. An invidis commentary.
invidis Commentary: All Eyes on QSR
Grassfish DACH has acquired the German software provider MDT. Vertiseit, Grassfish’s parent company, is particularly interested in MDT’s two main customers: Deutsche Telekom stores across Europe and McDonald’s in Germany. With the addition of 30,000 MDT licenses, Vertiseit’s total installed base now exceeds 300,000 active licenses.
The McDonald’s Germany network, with about 12,000 touchpoints, adds to Visual Art’s existing 6,000 McDonald’s screens across Europe. Migrating the 30,000 MDT touchpoints to the new Grassfish platform, Aqua, is expected to take up to three years. MDT will be fully integrated within three months.
MDT had been for sale for some time. Its CMS platform is seen as technically mature and reliable in the industry, but it hasn’t seen many exciting updates lately. In recent years, no major new customers have been acquired. Now, Vertiseit has stepped in to boost Visual Art’s presence in the QSR business with this deal – a smart move for the Swedish team led by CEO Johan Lind.
With an ARR multiple of 4.3x, MDT sold at a strong price, giving Vertiseit access to a profitable software business with two blue-chip customers.
