TeamSystem, the Italian group and European leader in digital business management solutions, has announced the acquisition of Sellsy, a French publisher specializing in cloud-based management solutions for SMEs. Experts from AURIS Finance, a mergers and acquisitions advisory firm, analyze this latest market move.
Headquartered in Pesaro (central Italy), TeamSystem develops cloud management platforms and AI-driven solutions for businesses and professionals. To date, the group serves 2.3 million customers and employs nearly 5,000 people, generating revenue of one billion euros. A pioneer in e-invoicing in Italy, TeamSystem now aims to replicate this model in other European markets.
Sellsy: A Major Player in France
In this context, the group has chosen to acquire Sellsy. Founded in 2009 in La Rochelle, Sellsy has established itself as a key player in the digital transformation of French SMEs, offering a comprehensive “lead-to-cash” suite that integrates CRM, sales management, e-invoicing, pre-accounting, and marketing automation. With a team of nearly 180 employees dedicated to R&D and product development, Sellsy provides a user-friendly solution tailored to the needs of companies with fewer than 100 employees. The company claims over 23,000 customers and approximately 53,000 active users, primarily in France but also in Spain. As part of France’s e-invoicing reform, Sellsy recently became an Approved Platform (PA).
Spanish Presence
Sellsy’s growth has been supported by financial backing from the Saxon fund PSG Equity since 2021. Specializing in technology services and software for SMEs, PSG Equity has helped structure and scale Sellsy, injecting a total of €55 million in funding. Under its leadership, Sellsy acquired Quipu in 2022, a Spanish specialist in invoicing and accounting products.
European Ambitions
This acquisition marks a new milestone in TeamSystem’s European expansion strategy. Since its takeover by the American private equity firm Hellman & Friedman in 2016, TeamSystem has accelerated its external growth operations. The acquisition of Sellsy follows closely on the heels of its integration of Clémentine in France. In March 2025, TeamSystem took over the Nancy-based online accounting firm founded in 2012. Through these acquisitions, TeamSystem aims to build a pan-European ecosystem capable of competing with American software giants. By combining its technological expertise (AI, automation, cloud) with the local presence of companies like Sellsy and Clémentine, the group intends to offer SMEs a one-stop shop for managing their business.
Pan-European Platforms
These recent moves highlight the strong trend toward consolidation in the sector. In 2025, Cegid acquired VisualTime by Robotics, a Spanish company specializing in cloud-based time management solutions. In France, the unicorn Pennylane took over Billy, a startup focused on automating data exchanges between all types of software. Backed by international funds, these platforms are now seeking to scale up and expand their solutions beyond national borders. Mid-sized companies like Clémentine—and to a certain extent Sellsy—with strong national footprints, are attracting the interest of major groups.
Our Experts by Your Side
More developments may unfold in the coming months. AURIS Finance’s experts specialize by sector. Our digital and tech solutions specialists support you in your divestment, acquisition, and financing projects.
