June 21, 2023 - Alibaba International Digital Commerce Group (AIDC) has signed a definitive agreement to invest in Visable, a leading business-to-business (B2B) market platform provider and a portfolio company of Swiss private equity firm Capvis. AIDC is an independently run business group that promotes global digital commerce through its portfolio of platforms. The entity making the investment is based in Singapore. Closing of the transaction is subject to regulatory and anti-trust approvals. Financial details were not disclosed.
Given its experience and technology expertise from more than 20 years of e-commerce platform operations, AIDC is the ideal partner to further enhance and globalize Visable’s success story. The long-term strategic goal is to strengthen Visable’s position as Europe's most comprehensive B2B marketplace by enhancing its user experience with state-of-the-art technology and an expanded product portfolio. This will further bolster the digital transformation of European small and medium-sized enterprises (SMEs) and facilitate the export of European products globally.
Visable will continue to operate as an independent company with its own brands and growth strategy. Its organizational structure will remain as is with the Management staying invested in the company.