Claranova finalizes sale of PlanetArt division to GA Credit, management

Claranova announced it has completed the sale of PlanetArt division to General Atlantic Credit’s Atlantic Park fund and the PlanetArt management team, for $169.5 million (around 145 million euros). The move consolidates Claranova’s business into a solely software publishing, focusing on three segments: Utilities (Adaware), PDF (SodaPDF), and Photo (inPixio). This strategic refocusing will significantly improve the Group’s financial performance, which will benefit from a level of operational profitability above 20% (compared to less than 10% in recent years), a largely positive net result and significantly reduced debt.

The total price for the value of the PlanetArt securities was set at $169.5 million, of which 82% was for the benefit of Claranova, i.e. $139 million (or approximately €119 million), and 18% for the benefit of PlanetArt managers. PlanetArt’s net cash remains in the entity, amounting to approximately $20 million.

“The sale of PlanetArt is much more than a financial transaction; it is a strategic turning point for Claranova,” said Eric Gareau, CEO of Claranova “By becoming a pure player in software publishing, we are affirming our ambition to become a leading player in this market, with a clear, coherent offering driven by three strong segments.

“I would like to commend the work of the Claranova teams and our Board of Directors, who worked tirelessly for many months to successfully complete this transaction. Their rigor, perseverance, and professionalism were crucial to the success of this sale.

“This refocusing allows us to start anew on solid foundations with a simplified scope, improved profitability, and a strengthened financial structure. We are now fully focused on the future, with the desire to return to a sustainable and profitable growth trajectory, capitalizing on our technological know-how and our capacity to innovate.”

Claranova is expected to receive €110 million on June 30, 2025, with the balance being deferred for 12 months. These funds, paid in a single payment upon signing the transaction, have served to significantly reduce the group’s gross debt, which fell from €153 million as of Dec. 31, 2024 to €50 million as of June 30, 2025. As part of its communication of June 23, 2025, the company communicated on a level of net financial debt as of Dec. 31, 2024 restated after Claranova operations of 31.5 million euros. Based on the information available to it, the Company estimates that its net financial debt situation as of June 30, 2025, and after taking into account all the impacts of the sale, could be close to €40 million. This reduction of more than 60% in gross debt since Dec. 31, 2024, significantly strengthens the croup’s financial structure, as does the capital gain from the transaction, estimated at more than €84 million, which will be recorded as exceptional income in the 2024-2025 accounts and will allow equity to become largely positive again.

Claranova intends to refinance the remaining debt of €45 million as soon as possible to benefit from borrowing conditions consistent with its restored risk profile.