French software firm LumApps is set to merge with Swiss counterpart Beekeeper in a deal that will create a new business valued at over $1bn.
LumApps, which calls itself an “intranet super app,” offers a platform that helps staff at large firms manage internal communications and workforce apps.
Meanwhile, Beekeeper provides a mobile platform that helps companies engage with their frontline workers via tools such as messaging, shift scheduling, and workflow automation.
Combined, the two firms plan to create an “employee hub” covering a broad spectrum of job roles, from doctors and truck drivers to customer service agents.
Once merged, the company will serve over 7 million users, generate $150mn in recurring revenue, and employ over 600 people, the firms said in a joint press release.
“Together, LumApps and Beekeeper will support all employees, everywhere, in this new age of work,” said Sébastien Ricard, CEO and co-founder of LumApps.
The new firm’s headquarters will be located at LumApps’ current base in Lyon, France. Ricard will lead the business.
The deal is due to be finalised this month. British private equity group Bridgepoint — LumApps’ largest existing shareholder — will retain majority ownership in the merged entity.
If the deal goes ahead, it will birth Europe’s latest unicorn company. Other firms that reached a $1bn valuation this year include German drone maker Quantum Systems, Swedish bioscanning company Neko Health and no-code app Lovable.