At what enterprise value was OPENWORK acquired in 2023?

You can find the full valuation details of OPENWORK on mynth capital. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of OPENWORK when it was acquired by FREELANCE.COM?

The exact EV/EBITDA multiple for OPENWORK is available on mynth capital. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.3x. Join our community for free to access full valuation data and industry trends.

When was OPENWORK acquired by FREELANCE.COM?

OPENWORK was acquired by FREELANCE.COM in 2023.

What was the revenue of OPENWORK at the time of the deal?

The revenue of OPENWORK at the time of the deal is estimated to be in the range of 50M - 100M EUR. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the OPENWORK acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the OPENWORK deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://investors.freelance.com/wp-content/uploads/2023/08/CP-Freelance-31082023_FR_Openwork.pdf

← DATABASE

Home Database Business ServicesOPENWORK

08/2023

OPENWORK

Acquired by

FREELANCE.COM

FRANCE Professional Services / HR & Capital / Temp Work / Staffing REV 50M - 100M EUR

OPENWORK acquired by FREELANCE.COM

FRANCE Professional Services / HR & Capital / Temp Work / Staffing REV 50M - 100M EUR

Context

The acquisition of OpenWork allows Freelance.com to absorb one of its most innovative competitors, effectively merging OpenWork’s digital-first platform with Freelance.com’s large-scale institutional reach. The strategic rationale for the deal is rooted in the complementary nature of their service offerings and geographic footprints, particularly with the integration of OpenWork’s Belgian operations into Freelance.com’s existing international network in Switzerland and Morocco. By combining their commercial and marketing resources, the new group achieves a stronger position to manage different tiers of consultants through a multi-brand strategy. The partnership is expected to drive higher operational margins through the optimization of shared digital tools and a centralized administrative structure at the group’s headquarters. For OpenWork, the integration provides access to a broader range of B2B resource management services, while for Freelance.com, it reinforces its technical leadership in the "Portage Salarial" sector. This merger highlights the ongoing trend of professionalizing the freelance economy, where scale and specialized digital interfaces are critical for capturing market share in the rapidly growing professional services outsourcing industry.

OPENWORK, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Business Services sector (11.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

OpenWork is a leading French specialist in "Portage Salarial" (umbrella company services), ranking among the top five players in the domestic market. The company provides an integrated platform designed to simplify the administrative, fiscal, and social management of independent consultants while granting them the legal protections of salaried status. Its business model is characterized by a "capped-fee" service offer and a high-performance digital ecosystem, including both web and mobile interfaces that automate back-office tasks for freelancers. With a strong presence in France and a growing international subsidiary in Belgium, OpenWork serves over 1,200 active independent professionals. Strategically, the firm acts as a business accelerator for consultants, offering a streamlined digital-first experience that reduces operational friction and enhances the security of the self-employed workforce.

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REFERENCES

Revenue range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of OPENWORK by FREELANCE.COM are reserved for mynth community members. Register for free to unlock full data.

Authors: mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).