Tigris Small & Micro Cap Fund Lifts EASY Software Valuation
EASY Software AG has seen its share price climb from approximately €13 to €19 since entering the Tigris Small & Micro Cap Growth Fund. The German document management and enterprise content management specialist commands a formidable market footprint as a leading domestic system vendor in digital business process automation. Its infrastructure spans numerous total installations, a figure that includes deployments within complex SAP environments according to boerse.de.
Navigating an Opaque Corporate Structure
Despite this operational scale, public visibility remains severely restricted. Major shareholder Battery Ventures maintains a controlling stake in the firm through conrizon AG. Because EASY Software’s stock listing exists without active application by the company itself, the business operates entirely free from standard transparency obligations.
Gathering intelligence under these constraints requires unconventional measures. To properly monitor corporate developments, Tigris Capital management attended the annual general meeting in Essen and conducted a rigorous review of available corporate financial reports.
The Operational Quality Leap of 2025
That investigative ground-level work revealed fundamental improvements. Tigris Capital’s analysis of the 2025 financial year points to a clear operational quality leap, marked by higher profitability and significantly improved stability compared to prior years. Underlying this momentum are robust recurring revenue streams and a two-step EBITDA adjustment process.
Global Reach and Indirect Sales Architecture
Long before its current financial turnaround, the firm established itself as a pioneer in electronic filing solutions. Today, it builds, implements, and distributes standard software platforms designed to digitize administrative workflows for enterprises of all sizes, relying primarily on an indirect sales model.
That architecture supports a sprawling geographic footprint. Operations are officially divided into specific regional segments covering Germany, Austria, England, the United States, Singapore, and Turkey.
The Battery Ventures Exit Horizon
With profitability and earnings power climbing under its majority owner, investors are increasingly turning their attention toward Battery Ventures’ medium-term exit strategy. Strategic upside potential driven by cloud migration, artificial intelligence initiatives, and targeted mergers and acquisitions has transformed the business model. Yet for minority shareholders, the controlling stakeholder’s ultimate positioning for its holding remains the central question on the horizon.
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