Grundig Business Systems GmbH
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Grundig Business Systems GmbH - overview
Established
2001
Location
Nuremberg, -, Germany
Primary Industry
Electronics
About
Grundig Business Systems GmbH specializes in advanced speech processing solutions, focusing on speech recognition and digital dictation technologies for sectors such as healthcare and legal administration. Founded in 2001 and headquartered in Nuremberg, Germany, Grundig Business Systems GmbH develops speech processing technologies. The firm transitioned its business strategy to focus more on AI-driven solutions alongside traditional voice recognition tools. Current CEOs include Barbara Kuriczak, Kai Lenfert, and Verdenhalven Simon.
The company was acquired by VR Equitypartner in June 2017 from INDUC, and has completed a total of 2 deals up to the most recent deal date on January 9, 2017. Grundig Business Systems specializes in comprehensive speech processing solutions, particularly in speech recognition technologies and digital dictation systems for professional environments like healthcare and legal sectors. Their flagship product, Dragon Medical One (DMO), enhances clinical documentation and streamlines workflows in medical practices, ensuring compliance with data protection standards. The Corti Assistant, an AI-driven tool, supports healthcare professionals by analyzing conversations in real-time to improve diagnostic accuracy.
Grundig’s offerings cater to clients across Germany, Austria, and Switzerland, including hospitals, legal firms, and municipal administrations, thereby enhancing efficiency in document creation and administrative tasks. For the most recent year 2023, Grundig Business Systems recorded a revenue of USD 28. 80 mn and an EBITDA of USD 1. 91 mn.
Their revenue model includes direct sales, subscriptions, and cloud services targeted at B2B clients, with products offered through licensing agreements and subscription-based services. The company aims to expand its product lineup with new innovations, although specific upcoming releases have not been detailed. Grundig is targeting expansion into additional European markets, with plans to establish a stronger presence by 2025. The funding from the acquisition by VR Equitypartner will likely support these initiatives and enhance product development efforts.
Current Investors
VR Equitypartner, INDUC
Primary Industry
Electronics
Sub Industries
Electronics
Website
www.grundig-gbs.com
Verticals
Manufacturing
Total Amount Raised
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Grundig Business Systems GmbH - timeline of key events
Grundig Business Systems GmbH - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 24,771,000 | 24,891,000 | 32,625,000 | 28,235,000 | - | - | - |
| % Revenue Growth (YoY) | - | 0.5% | 31.1% | (13.5%) | - | - | - |
| EBITDA (USD) | 5,480,000 | 5,641,000 | 6,364,000 | 2,560,000 | - | - | - |
| Operating Income (USD) | 5,011,000 | 5,172,000 | 5,916,000 | 2,068,000 | - | - | - |
| Operating Margin | 20.2% | 20.8% | 18.1% | 7.3% | - | - | - |
| % EBITDA Margin | 22.1% | 22.7% | 19.5% | 9.1% | - | - | - |
| NET Income (USD) | 2,699,000 | 1,250,000 | 1,908,000 | 2,066,000 | - | - | - |
| % Net Margin | 10.9% | 5.0% | 5.8% | 7.3% | - | - | - |
Grundig Business Systems GmbH - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | elektron Systeme und Komponenten GmbH & CO.KG | - | ||||||||
| Secondary Buyout | Completed | Grundig Business Systems GmbH | - | ||||||||
| Buyout | Completed | Grundig Business Systems GmbH | - |
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Grundig Business Systems GmbH - employee data
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