SD Worx accelerates digital innovation and becomes majority shareholder of Teal Partners
21 May 2021
SD Worx, a leading European HR & Payroll services provider, has become the majority shareholder of Teal Partners. SD Worx has enjoyed a close collaboration with the Belgian software development provider Teal Partners since its inception, and the two companies have worked together on a number of innovative products and services. For the last two years, SD Worx has been a minority shareholder of Teal Partners. With SD Worx now acquiring 74% of its shares, Teal Partners can accelerate its growth ambitions and increase its impact on the digital transformation in various sectors.
Teal Partners counts 28 employees, and serves a range of well-known customers including Deloitte, Xerius and Actief Interim. The software developer will keep its own identity and brand and will continue to focus on the realisation of innovative digital solutions for customers of all sizes in various industries.
“We are very happy with the trust we get from a major international player such as SD Worx. Their belief in Teal Partners, as well as their available expertise and strength, makes SD Worx the ideal partner. We are convinced that this collaboration will accelerate our growth and increase our impact on the digital transformation in various sectors,” says Koen Denies, founding partner at Teal Partners.
“Teal Partners helps its customers with the digital transformation of their core business, a mission that is very similar to our focus on digital innovation to serve our customers and their employees in the best possible way. This only confirms our trust in this new addition to the SD Worx family. It goes without saying that this transaction will only bring extra opportunities for Teal Partners’ existing customers and employees. We have seen what this young company is capable of and we are committed to supporting their entrepreneurial drive. By strengthening them financially and strategically, we trust they will realise their full potential,” says Tom Wouters, Chief Product Officer at SD Worx.