Thursday, 25 July 2019

Smile - !!!

It's a nice sunny day, dear reader(s), so ... smile! Yes, it's a PR email. So, smile - !!! Smile for me! Me - !!! Ah, smile for everyone!

Okay, okay. Anything else? 'Is that the PR email, boss? Just smile!' No, no, Voice. No. There's more to it than that, unfortunately. 'Are you going to do the rest of it, then?' Well, I suppose I'll have to ...

But first! A little bit of politics, as Ben Elton used to say. Boris Johnson is prime minister now, and his new cabinet is looking very interesting. He seems to have surrounded himself with the worst people in Britain. The dregs of society, as it were. 'Ha!' Yes, this is our new government. What can go wrong?

But I don't care, kook(s). I'm not of this world, thank God!

Okay, okay. The PR email. For my sins, and yours.

Keensight Capital, one of the leading European Growth Buyout firms, has entered into an exclusive agreement to acquire a majority stake in Smile, the European leader in digital and open source. Subject to the completion of the information and consultation process of the employees representative bodies of the Smile group and the approval of the transaction by the French competition authority, Keensight Capital, which has built a strong partnership with Smile over the years having first invested in the company from 2013 to 2017, would replace Eurazeo PME as majority shareholder. Eurazeo PME would also be reinvesting in the company, alongside the management team and the employees.

Oh, by the way ... JB Straubel seems to have left Tesla. 'He's staying on as an adviser, boss.' Really? That remains to be seen. / Anyone who is familiar with the Vance/Musk book will know how important Straubel has been. I find this news a bit disturbing, to put it mildly. However, I've got my own problems to worry about, you dig? Elon isn't going to stop being Elon. I'm me, Michael! I've got to be me. I've got to record my songs. But, uh ... not in this heat, obviously. It's going to be thirty-eight degrees in London today, but only twenty in St Ives and Looe. 'Ha! Get back to Cornwall, boss!' Well ... 'Why did you even come home, man?' Christ! Because I'm a glutton for punishment, that's why. I've got this blog to write. I've got my songs to record. I've got my destiny to fulfil. / Oh! I've been thinking, kook(s). Listen! Most big stars have to spend years building a mythology around themselves, BUT(!) ... I've been doing it for twelve years already with this blog. I'm ready to go, son! Uh, daughter. You dig?

Anyway ...

Founded in 1991, Smile has been a technology pioneer and is now the European market leader in digital based projects on open source technologies. The company combines technical and business expertise in areas ranging from digital technology, E-business and the Internet of Things to embedded systems, IT infrastructures and business apps. Its unique service offering provides businesses with cutting-edge open source solutions designed to release the unexploited innovation potential that lies in all companies.

Fair enough. There's actually a lot of this email, and it's such a hot day, er ... 'Skip straight to the quotes, boss.' Yes, that's what I was thinking of doing. Thank you, Voice.

Okay, Marc. Do your thing!

Marc Palazon, Chairman of Smile's Executive Board, says: "In sync with Keensight Capital and Eurazeo PME's investment philosophy, we think one step ahead. Our ambition is to establish ourselves as the next European digital champion, through both organic growth and bolt-on acquisitions. We are confident that the guidance of two of the best European investment teams coupled with the roll-out of the second part of our Open Arrow strategy would enable us to make open source the main vector for digitalization in Europe."

Nice one, Marc!

Come on, Philippe! Do your thing!

Philippe Crochet, Managing Partner at Keensight Capital, declares: "For our new investment through Keensight V, our recently raised €1 billion fund, we are proud to have the opportunity to partner yet again with Marc Palazon, a highly talented manager with whom we have collaborated from 2013 to 2017, and his highly recognized teams. With its unique open source DNA and its limitless capacities, Smile's growth potential is extraordinary, especially at an international level. We are very excited to keep exploring new opportunities together."

Great! Thank you, Philippe! / And, uh ... Pierre?

Pierre Meignen, Managing Director at Eurazeo PME, states: "We are delighted to renew our support to such a rare and ambitious company. Smile's European footprint as well as its solid positioning testify to its unique growth capacity which continues to impress us daily."