The Munich-based startup Shore has announced the acquisition of software provider absence.io, a provider of cloud-based absence management software for small and medium-sized businesses. This solution is a further component of the Shore platform and strengthens Shore's positioning as a SaaS provider in the local business segment. The number of users who rely on the digitization specialist's solutions thus rises to over 100,000.
absence.io offers the leading, cloud-based software solution for absence management for small and medium-sized businesses. Its numerous features are designed to plan and document administrative processes related to vacations, home office, or sick days on a transparent and simple online platform. The solution is used weekly by over 25,000 employees in 45 countries across four continents. Customers include Check24, Jimdo, and the German Mechanical Engineering Association (VDMA). Until the acquisition by Shore absence.io received exclusively a seed investment from the Munich innovation consultancy mantro.
Great synergy effects for both sides
The acquisition and integration of the two software solutions creates significant synergy effects. Shore customers have access to another tool for efficient and transparent personnel management. absence.io users can now also add customer management, online booking, and other software tools to the Shore platform. absence.io will continue to be offered both as a standalone product and as a complement to existing Shore solutions.
All employees of the Munich-based company will transfer to Shore as part of the acquisition. The team, led by founder and managing director Nikbin Rohany and CTO Karsten Grombach, will move into Shore's Munich headquarters over the next few days. Rohany will continue to serve as managing director of absence.io and will also assume a role in Shore's management team.
Successful exit for absence.io
Philip Magoulas, co-founder and managing director of Shore, explains the acquisition:
"With absence.io, we are integrating another profitable business model that perfectly complements our existing offering. absence.io not only impressed us with its software, but also its organic growth and high recommendation rate were important factors in our decision. It is a significant step toward solidifying our market position as a leading SaaS provider in the SMB environment."
Nikbin Rohany, founder and managing director of absence.io, adds:
"We are very pleased about the successful exit and to now be part of the Shore family. The synergy effects on both sides are clear. With its broad range of digitalization solutions, Shore offers optimal conditions to significantly increase our user numbers again."
